EPCG Scheme – Public Notice No.22/2015-20 dated 31.07.2019 issued by DGFT
August 6, 2019
Members of the Council,
Sub : EPCG Scheme
Please find enclosed herewith Public Notice No.22/2015-20 dated 31.07.2019 issued by DGFT regarding automatic reduction/enhancement upto 10% duty saved amount and pro rata reduction/enhancement in export obligation under EPCG Scheme. This Public notice states the following.
In excess of duty saved amount indicated on the authorization by not more than 10%, the authorization shall be deemed to have been enhanced by that proportion. Customs shall automatically allow clearance of such goods without endorsement by RA concerned. The authorization holder shall furnish additional fee to cover excess imports effected, in terms of duty saved amount, to RA concerned, within one month of excess imports taking place. Export obligation shall automatically stand enhanced proportionately. RA concerned may also accept the additional fee to cover the excess imports effected, in terms of duty saved amount, if the same is furnished beyond one month but within two years of the excess import taking place, subject to payment of composition fee of Rs. 5000/- per authorisation.
Members may kindly note the above.
Thanks & regards,