Eo under epcg

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 May 2015 i was unable to fulfil my EO for the 1st block of 6 years and my total export for 1st block was 0. and in the 7th year i exported full amount which i was required to.
also i havent applied for any extention for the 1st block.
Now i received a letter from dgft regarding non fulfillment of EO under 1st block and asked for payment of custom + interest @15%. is there any way by which i can get condonation under FTP.
please also specify under which para i can get condonation.
thanks in advance.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

23 May 2015 PARA 5.1 (C)OF HAND BOOK OF PROCEDURES 2015-2020
"Where EO of the first block is not fulfilled in terms of the above proportions, except in cases where the EO prescribed for first block is extended by the Regional Authority subject to payment of composition fee of 2% on duty saved amount proportionate to unfulfilled portion of EO pertaining to the block, the Authorization holder shall, within 3 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.

Note: although you have not mentioned here the EPCG LICENCE NO. AND DATE

advise
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please provide here above said details so that i would enable to speak... as far as i understand you are admissible to submit this case in PRC committee IN DGFT HEADQUARTERS.

ramesh kumar

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