EXPORT OBLIGATION FULFILL MENT (EO)

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..... 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 fulfillment 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 completio .....

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..... n 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 fulfillment 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 Exp .....

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..... ort 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 proporttionate duty saved amount on unfulfilment obligation or an enhancement of total export obligation by 10%, at the choice of exporter, for eac .....

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..... h 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 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) .....

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..... Circular no 16/2006-Cus dated 09-05-2006. This is for your kind information. Best Regards. Pradeep Khatri - EXPORT OBLIGATION FULFILL MENT (EO) - Query Started By: - SACHIN SHAH Dated:- 1-9-2011 Customs - Import - Export - Customs - SEZ - Got 3 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindi .....

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..... a - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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