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TMI BlogEXPORT OBLIGATIONX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear experts, Para No 5.1(e) of FTP 2015-20 (e) In case Integrated Tax and Compensation Cess are paid in cash on imports under EPCG, incidence of the said Integrated Tax and Compensation Cess would not be taken for computation of net duty saved provided Input Tax Credit is not availed. As per the above Para No 5.1(e) of FTP 2015-20 . I will import machinery against EPCG licence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and (1) In case Integrated Tax and Compensation Cess are paid in cash. (2) Input Tax Credit is availed. Q-1-What is Export Obligation ? Q-2 6 times of Customs duty +Social Welfare Surcharge +integrated Tax + Compensation Cess Q-3 6 times of Customs duty +Social Welfare Surcharge Dear all expert , please suggest and kindly share with us reference Manish Parmar - Reply By R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ajagopalan Ranganathan - The Reply = Sir, According to Para 5.01 (c) (d) of FTP (2015-20) (As on 30 June 2019) (c) Import under EPCG Scheme shall be subject to an export obligation equivalent to 6 times of duties, taxes and cess saved on capital goods, to be fulfilled in 6 years reckoned from date of issue of Authorisation. Authorisation shall be valid for import for 18 months from t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he date of issue of Authorisation. Revalidation of EPCG Authorisation shall not be permitted. (d) In case Integrated Tax and Compensation Cess are paid in cash on imports under EPCG , incidence of the said Integrated Tax and Compensation Cess would not be taken for computation of net duty saved provided Input Tax Credit is not availed . From the above answer to question 1 and 3 are as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... above. In view of answers to questions 1 3, answer to question 2 is No. - Reply By MANISH PARMAR - The Reply = (d) In case Integrated Tax and Compensation Cess are paid in cash on imports under EPCG, incidence of the said Integrated Tax and Compensation Cess would not be taken for computation of net duty saved provided Input Tax Credit is not availed. as per the above para. If Integrated Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Compensation Cess are paid in cash and Input Tax Credit is availed. Q-1-What is Export Obligation ? A- Customs duty +Social Welfare Surcharge +integrated Tax + Compensation Cess (total duty) B- Customs duty +Social Welfare Surcharge (Only Customs duty). Dear sir, please further confirm of the above. - Reply By YAGAY andSUN - The Reply = Since you paid IGST in cash, therefore your expo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt obligation would be 6 times of duty foregone, which you need to fulfill within six years from the date of issuance of EPCG License. Besides it, you need to also fulfill the Average Export Obligation as mentioned in your EPCG License. - EXPORT OBLIGATION - Query Started By: - MANISH PARMAR Dated:- 6-2-2020 Customs - Import - Export - Customs - SEZ - Got 3 Replies - Customs - Discussion Forum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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