epcg licence
This query is : Resolved
16 August 2008
My doubts are:
1) Firstly, when we apply for EPCG lic. for local procurement, why we get refund of Excise Duty and why it is called as Refund of "TERMINAL" Excise Duty, why the word TERMINAL is used.
2) Secondly, For local procurement under EPCG lic. we will get refund of Excise Duty as mentioned above, why we will not get any refund from import items (cleared under EPCG LIC.)
3) Lastly, what benefit would govt. gets if Excise Duty is refunded to the manufacturer.
Kindly reply to my doubts
Regards
K.Ravi
1) Firstly, when we apply for EPCG lic. for local procurement, why we get refund of Excise Duty and why it is called as Refund of "TERMINAL" Excise Duty, why the word TERMINAL is used.
2) Secondly, For local procurement under EPCG lic. we will get refund of Excise Duty as mentioned above, why we will not get any refund from import items (cleared under EPCG LIC.)
3) Lastly, what benefit would govt. gets if Excise Duty is refunded to the manufacturer.
Kindly reply to my doubts
Regards
K.Ravi
S.Srinivasaraghavan
(Expert)
17 August 2008
1. Terminal duty is the duty on the final product beyond which it does not undergo any further manufacture.
2. What is the duty you are talking about here?
3.The benefit is export promotion and the resulting foreign exchange, country's industrial output and therefore economic prosperity.
2. What is the duty you are talking about here?
3.The benefit is export promotion and the resulting foreign exchange, country's industrial output and therefore economic prosperity.
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