9911796707
TMI BlogCircular No. 5/97 Cus dated 14.03.97. Notfns. No.28/97 Cus & No. 29/97 Cus, both dated 01.04.97 and No. 110/95 Cus & No.111/95.X X X X Extracts X X X X X X X X Extracts X X X X ..... otification No. 28/97-Cus. provided for levying customs duty @ 10% and Notification No. of Export and Import Policy (EXIM POLICY) 1997 - 2002 announced on 13.4.98 also some changes have been made in the existing EPCG Scheme. The effects of these changes are explained in Board's Circular No. 31/98-Cus. dated 5.5./98 Customs Notification No. 8/98-Cus. and 9/98 -Cus. both dated 23.4.98 may also be referred in this regard. As a result it has become necessary to make amendment in Board's Circular No. 5/97-Cus. dated 14.2.97 so as to incorporate system of monitoring export obligation under 15% (now 10%) and Zero Duty EPCG Scheme as outlined in Customs Notification No. 110/95-Cus., 111/95- Cus., 28/97-Cus. and 29/97-Cus. Accordingly, the following ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. - 1. Nil 2. 10% - Rs. 2. - " - Rs. *2. 15%- Rs. - 2. -- 3. 20% - Rs. 3. - " - Rs. *3 35% - Rs. - 3. -- 4. 30% - Rs. 4. - " - Rs. *4 50% - Rs. - 4. -- 5. 40% - Rs. 5. - " - Rs. * In case of Electronics / Food Processing etc. and software Sectors, Export Obligation for First, Second and Third Block in 15%, 35% and 50% respectively. 2.5 Annexure IV to the Circular shall be substituted by the new Annexure IV annexed to this Circular. 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pital goods under EPCG Scheme .... Licence No. ..........Dt. ............. Bond for Rs. .......... Bank Guarantee .............. A. For Non-discharge of proportionate Export obligation via block or year. Whereas it appears the M/s. (The licence holder) and M/s. (the authorised Customs House Agent) have failed to achieve the pro rata % of export obligation prescribed under Notification No. 110/ 95- Cus./ 111/ 95-Cus., 28/97-Cus., 29/97-Cus and therefore the pro rata duty foregone on the goods imported becomes recoverable as per condition 4 to Notification No. 110/ 95-Cus. / condition 4 to Notification No. 111/ 95- Cus./ condit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the date of receipt of this notice failing which the case shall be decided on the strength of available evidence on record 2. Para 2 same as in 'A' above. C. For failure to import goods of specified value. Whereas it appears that M/s. (Licence Holder) and M/s. (authorised agents) have failed to import capital goods. etc. ........ detailed in the table annexed to Notification No. 111/95- Cus., 29/97-Cus. for a minimum value of Rs. 20 crores or Rs. 1 crores or Rs. 10 lakhs as provided in condition (2) to Notification No. 29/97- Cus. within the validity period of the EPCG Licence No. ................ dt. .................. issued to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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