9911796707
TMI BlogConcessional rate of duty of 15% for imports of Capital goods, components and spares under EPCG scheme - EXIM Policy 1997-2002X X X X Extracts X X X X X X X X Extracts X X X X ..... irst Schedule to the Customs Tariff Act, 1975 (51 of 1975) as is in excess of the amount calculated at the rate of 15% ad valorem and whole of the additional duty leviable thereon 2[ under sub-sections (1), (3) and (5) of section 3 ] of the said Customs Tariff Act, subject to the following conditions, namely:- (1) The goods imported are covered by a valid licence issued on or after 1st May, 1995 under the Export Promotion Capital Goods (E.P.C.G.) Scheme in terms of Export and Import policy (hereinafter referred to as the said Policy) permitting import on payment of duty of customs at the rate of 15% and the said licence is produced for debit by the proper officer of the customs at the time of clearance; Provided that for the import of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pay an amount equal to that portion of the duty leviable on the goods but for the exemption contained herein which bears the same proportion as the unfulfilled portion of the export obligation bears to the total export obligation together with interest at the rate of 15% per annum from the date of clearance of the goods. (5) The importer shall, if he fails to discharge a minimum of 25% of the export obligation prescribed for any particular year, for three consecutive years, be liable to pay forthwith the whole of the duty of customs leviable on the goods imported but for the exemption contained in this notification together with interest at the rate of 15% per annum from the date of clearance of the goods. 3[(6) The capital goods import ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons as may be specified in a Public Notice of the Government of India in the Ministry of Commerce and Inustry in this regard, such export obligation may be extended, but shall in no case be extended beyond the 31st day of March, 2004. 1[2. In a case of default in export obligation, when the duty on goods is paid to regularise the default, the amount of interest paid by the importer shall not exceed the amount of duty if such regularisation has been dealt in terms of Public Notice of the Government of India in the Ministry of Commerce No. 22 (RE-2013)/2009-2014 dated the 12th August, 2013.] TABLE S.No. Description of goods 1 2 1. Capital goods 2. Capital Goods in SKD/CKD condition to be assembled into capital goods by the importer. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion to importers other than those rendering service means export to a place outside India of products manufactured with the use of capital goods imported, assembled or manufactured in terms of this notification, for making of supplies of such products in terms of clauses (a), (b), (c), (e) (f) and (i) of para 121 of the Export and Import Policy and para 10.2 (g) of the Export and Import Policy 1997-2002 corrected upto 13-4-1998, and in relation to importers rendering services, means receiving payments in freely convertible foreign currency for services rendered through the use of such capital goods. -------------------------------------------- Notes:- [Notfn. No.110/95-Cus. dt. 5.6.1995 as amended by Notfn. No. 131/95-Cus, dated 25-8-19 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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