EPCG
This query is : Resolved
Sunil Bhageria
(Querist)
26 September 2009
My query is-
1.In which currency the (INR or USD)export obligation is required to be completed.In EPCG licence epxort obligation in both the currency is mentioned but due to fluctuation in excahnge rate obligation in one currency is completed while in other it remains short hence which currency should be considred for redemption of export obligation.
2. Our commpany have taken around 100 licences during the period 2003-04 to 06-7 then what will be averege export obligation will be computed and monitiored.
1.In which currency the (INR or USD)export obligation is required to be completed.In EPCG licence epxort obligation in both the currency is mentioned but due to fluctuation in excahnge rate obligation in one currency is completed while in other it remains short hence which currency should be considred for redemption of export obligation.
2. Our commpany have taken around 100 licences during the period 2003-04 to 06-7 then what will be averege export obligation will be computed and monitiored.
CA. B.SRINIVASULU
(Expert)
26 September 2009
In usd has to be considered for fulfilment of the obligation.
The reason being when you are importing the government is paying in usd and therefore they expect the inflow shold be there matching to the same.
The reason being when you are importing the government is paying in usd and therefore they expect the inflow shold be there matching to the same.
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