EXPORT OBLIGATION FULFILL MENT (EO)

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..... EXPORT OBLIGATION FULFILL MENT (EO)
Query (Issue) Started By: - SACHIN SHAH Dated:- 1-9-2011 Last Reply Date:- 1-9-2011 Customs - Exim - SEZ
Got 3 Replies
Customs
Sir, We had purchase all New machinery under EPCG Scheme , now some guideline require from you that due to some less export oreder received last 1 1/2 Years due to some internation market competition , we are unable to fulf .....

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..... illment export obligation . Now quetion is that 3 to 4 Machinery purchase under 3% & 5% Concession rate of duty under EPCG & there is one or two months pending for completion of block period ( 8 Years to be completion on oct-2011 ) is it we apply for extenton for EO fulfillment ? Please guide to us sachin Reply By pradeep khatri: The Reply: You may apply for extension of time period for fulfi .....

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..... llment of export obligation but such extesion is coupled with penalty of 2%. Reply By SACHIN SHAH: The Reply: Sir, Penalty of 2% for non fulfillment of Export obligation or Saved Custom duty Please clear . Regards, SACHIN Reply By pradeep khatri: The Reply: Dear Sir, Extension for fulfilment of export obligation upto two years can be obtained from RA on payment of composition fee of 2% of .....

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..... proporttionate duty saved amount on unfulfilment obligation or an enhancement of total export obligation by 10%, at the choice of exporter, for each year of extension sought. Such first extension of Export Obligation cab be maximum period of two years - para 5.11 of HBP Vol. 1 2009-14. Further, extension of export obligation beyond 8+2 year can be considered for a further period of two years with .....

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..... condition that 50% of duty payable in proportion to unfulfilled export obligation is paid to customs - para 5.11 of HBP Vol. 1 2009-14 - MF (DR) Circular no 16/2006-Cus dated 09-05-2006. This is for your kind information. Best Regards. Pradeep Khatri
Discussion Forum - Knowledge Sharing .....

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