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TMI BlogAmendments in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to Export Promotion Capital Goods Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business'X X X X Extracts X X X X X X X X Extracts X X X X ..... 023 , as amended from time to time, the Director General of Foreign Trade hereby makes the following amendments in Chapter 5 of the HBP, 2023 with immediate effect.- S.No. Para No. Existing provision Revised provision 1 5.04(a) Authorisation holder shall produce, within six months from date of completion of import, to the concerned RA, a certificate from the jurisdictional Customs authority or an independent Chartered Engineer, at the option of the authorisation holder, confirming installation of capital goods at factory/premises of authorisation holder or his supporting manufacturer(s). The RA may allow one time extension of the said period for producing the certificate by a maximum period of 12 months with a composition fee of Rs. 5000/-. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ithin six months of the shifting. 2 5.04(b ) In the case of import of spares, the installation certificate shall be submitted by the Authorisation holder within a period of three years from the date of import. Deleted. 3 5.13(c) Request for extension of Export Obligation period of first block shall be submitted within 6 months from the date of expiry of first block EO period along with composition fee of 2% on duty saved amount proportionate to unfulfilled portion of EO pertaining to the block. RA may consider the request for extension of block wise EO period, received after 6 months, but within 6 years from date of issue of authorisation, with a late fee of Rs. 10,000/- per authorisation. Application made beyond 6 years, for extension of b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall also be considered by RA concerned, with composition fee as under :- Duty Saved value of EPCG Authorisation issued Composition fee to be levied (in Rupees) Up to Rs. 2 Crores 15,000 More than Rs. 2 Crores to 10 Crores 30,000 Above Rs. 10 Crores 45,000 No refund of earlier paid Composition Fee shall be admissible. Where EO of the first block is not fulfilled in terms of para (a) above, except in cases where the EO prescribed for first block is extended by the RA, the Authorisation holder shall, within 6 months from the expiry of the block, pay duties of customs (along with applicable interest as notified by DOR) proportionate to duty saved amount on total unfulfilled EO of the first block. 4 5.13(e) New provision Notwithstanding sub-pa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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