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TMI BlogNil Customs duty & 10% additional duty on Captial goods, components & spares imported against an EPCG Licence - EXIM Policy 1992-97X X X X Extracts X X X X X X X X Extracts X X X X ..... the First Shcedule to the Customs Tariff Act, 1975 (51 of 1975) and so much of the additional duty leviable thereon 2[ under sub-sections (1), (3) and (5) of section 3 ] of the said Customs Tariff Act, as is in excess of the amount calculated at the rate of 10% of the value of goods: Provided that where the said goods are required for the manufacture of leather garments, textile garments (including knitwears), agro products and products of horticulture and floriculture and poultry such goods shall be exempt from the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act. 2. The exemption contained in paragraph 1 shall be subject to the following conditions, namely:- (1) The goods imported are cove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es, the export obligation shall be fulfilled within a period of 12 years from the date of issue of licence in the following proportions, namely:- S.No. Period from the date of issue of Licence Proportion of Total Export Obligation 1 2 3 1. Block of 1st, 2nd, 3rd, 4th and 5th Year Nil 2. Block of 6th, 7th and 8th Year 15% 3. Block of 9th and 10th Year 35% 4. Block of 11th and 12th Year 50% Provided further that where a sick unit notified by the Board for Industrial and Financial Reconstruction (BIFR) is subsequently taken over by another unit for revival the export obligation may be fulfilled within a period of 12 years from the date of issue of license. Provided also that export obligation of a particular block may be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... um value of twenty crores of rupees within the validity period of the import licence, be liable to pay forthwith the whole of the duties of customs leviable on the goods imported but for exemption contained in this notification together with interest at the rate of 24% per annum from the date of clearance of the goods. 3[(7) The capital goods imported, assembled or manufactured are installed in the importer's factory or premises and a certificate from the Assistant Commissioner of Customs or Deputy Commissioner of Customs having jurisdiction over the importer's factory or premises or independent Chartered Engineer, as the case may be, is produced confirming installation and use of capital goods in importer's factory or premises, within si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 3. Components of capital goods required for assembly or manufacture of capital goods by the importer. 4. Spare parts not exceeding 20% of the value of goods specified at serial nos. 1,2 and 3 as actually imported and required for maintenance of capital goods so imported, assembled or manufactured. Explanation.- In this notification,- (1) "Capital goods" means any plant, machinery, equipment and assessories required for - (a) manufact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commerce and Industry (Department of Commerce) No.28 (RE-2003)/2002-2007, dt. the 28th January, 2004. (6) "Net foreign exchange" means FOB value of products exported in discharge of obligation in terms of this notification minus CIF value of inputs used in manufacture thereof where such inputs have been- (a) imported by the importer directly; (b) imported by another person and supplied to importer without undergoing any process of manufacture; (c) procured indigeneously, for which the importer claims replenishment under the Duty Exemption Scheme as contained in chapter VI of the Export and Import Policy. ----------------------------------------------------------- Notes:- [(As amended by Notifications) No. 145/95-Cus, d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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