9911796707
TMI Blog15% or 25% Customs duty & Nil additional duty on Capital Goods when imported by an importer under the (EPCG) scheme - EXIM Policy 1992-97X X X X Extracts X X X X X X X X Extracts X X X X ..... ble hereto annexed from so much of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table and the whole of the additional duty leviable thereon 1 [ under sub-sections (1), (3) and (5) of section 3 ] of the said Customs Tariff Act, subject to the following conditions, namely:- (i) the capital goods imported are covered by a valid licence issued on or before 30 th April, 1995 under the Export Promotion Capital Goods (EPCG) Scheme in terms of the Export and Import Policy (hereinafter referred to as the Policy) and the said licence is produced for d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tate of Gujarat in the month of January, 2001 gransiots extenn of the period for fulfillment of export obligation, in terms of, and subject to the satisfaction of such condition as may be specified in a Public Notice of the Government of India in the Ministry of Commerce and Industry in this regard, the said period of fulfillment of export obligation may be extended and be deemed to have been extended beyond the 31st day of March, 2002, 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e maintenance of such capital goods not exceeding 10% of CIF value of the capital goods actually imported; (ii) Export and Import Policy means the Export and Import Policy, 1 April 1992-31 March 1997 published vide Public Notice of the Government of India in the Ministry of Commerce, No.1-ITC(PN) 92-97, dated the 31st March, 1992, as amended from time to time; (iii) Licensing Authority means an authority competent to grant a licence under the Import (Control) Orders, 1955, made under the Imports and Exports (Control) Act, 1947 (18 of 1947), or the Director General of Foreign Trade appointed under the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) or an officer authorised by him to grant a licence under the said ..... X X X X Extracts X X X X X X X X Extracts X X X X
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