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TMI BlogNotfns. No.8/98 to No. 10/98, all dated 23.04.98.X X X X Extracts X X X X X X X X Extracts X X X X ..... ve under gone changes. In order to give effect to these changes, Notification Nos. 8/98-Cus, 9/98-Cus and 10/98-Cus all dated 23.4.98 have been issued by the Department of Revenue. Notification Nos. 8/98-Cus and 9/98-Cus have been issued to give effect to the changes made in the EPCG Scheme and Notification No. 10/98-Cus. has been issued to give effect to the changes made in the Duty Exemption Scheme which are as follows. 2. Changes made in the EPCG Scheme 2.1 Import of Jigs, Fixtures, Dies and Moulds Import of jigs, fixtures, dies and moulds has been allowed as part of Capital Goods under EPCG Scheme upto a limit of 20% of the overall value of the EPCG Licence. The Entry S.No. 4 of the table to Notification ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e sectors, the threshold limit has been reduced to Rs. 1 crore; similarly, for products of software sector, the threshold limit has been reduced to Rs. 10 lakhs. The export obligation (E.O) on FOB basis for these sectors has been fixed at six times the CIF value of the imported capital goods or five times the CIF value of imported capital goods on NFE basis. The E.O for the licences issued after 13.4.98 for these sectors shall be discharged within a period of 6 years, and the proportion of the total export obligation for the block of first and second years, third and fourth years and fifth sixth years for such licences shall respectively be 15%, 35% and 50%. Paras 1 and 2 of the Notification No. 9/98-Cus. provide for this amendment in Not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filing of bond and/ or bank guarantee under EPCG Scheme has been deleted. Similarly, para 7.15(b) of the revised Handbook of Procedure (Vol.I) which provided for filing of bond and / or bank guarantee under duty exemption scheme has also been deleted. As a result, an impression is created that hence forth no bond or bank guarantee would be required to be filed under EPCG and Duty Exemption Scheme which is not correct. In this regard attention in invited to Board's Circular No. 45/96-Cus. dated 28.8.96 (F.No. 605/75 (A) / 95- DBK) and clarification issued vide Circular No. 38/97-Cus, dt 19.9.97 providing for the revised norms for execution of bond and bank guarantee under EPCG Scheme and Duty Exemption Scheme. It is clarified that the requi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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