EPCG Scheme - Amendment to Notification No. 111/95-Cus. - 96/96 - Customs -Tariff

EPCG Scheme - Amendment to Notification No. 111/95-Cus. Notification No. 95/96-Cus. Dated 19-12-1996 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 111/95-Customs, dated the 5th June, 1995, namely :- In the said notification, after condition (7) the following shall be inserted, namely :- "(8) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants an extension of the period for fulfilment of export obligation or regularisation of shortfall, in export obligation not exceeding 5% of such export obligation, in terms of paragraph 105(d) incorporated in the Handbook of Procedure, Volume-I by Ministry of Commerce vide Public Notice No. 314/(PN)/92-97, dated the 25th September, 1995, the said period of fulfilment of export obligation may be extended and the said shortfall in export obligation condoned by the Assistant Commissioner of Customs."