Annual return under epcg scheme?
This query is : Resolved
nikhillohia
(Querist)
27 May 2016
I imported machineries and applied under EPCG scheme to make it duty free, since then 2 years have passed and i have not yet exported anything.
I need a clarification on :
1. Do i have to file annual returns for the exports?
2. now as my export is nil till date, do i have to file a nil return?
I need a clarification on :
1. Do i have to file annual returns for the exports?
2. now as my export is nil till date, do i have to file a nil return?
Dr.RAMAKRISHNA. C
(Expert)
27 July 2016
Under EPCG Scheme export obligation requires to be fulfilled block wise. From the date of issue of Authorization up to fourth year minimum export obligation to be fulfilled is 50%. During fifth and sixth year the balance export obligations needs to be discharged. The Authorization holder would intimate the Regional Licensing Authority on the fulfillment of the export obligation as well as average exports ( Arithmetic mean of 3 preceding years exports of similar or same product) within 3 months of completion of the block period through online using Digital Signature only
Dr.RAMAKRISHNA. C
(Expert)
27 July 2016
Under EPCG Scheme export obligation requires to be fulfilled block wise. From the date of issue of Authorization up to fourth year minimum export obligation to be fulfilled is 50%. During fifth and sixth year the balance export obligations needs to be discharged. The Authorization holder would intimate the Regional Licensing Authority on the fulfillment of the export obligation as well as average exports ( Arithmetic mean of 3 preceding years exports of similar or same product) within 3 months of completion of the block period through online using Digital Signature only
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