Epcg license eo

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This query is : Resolved

Shyam (Querist)

06 March 2012 Dear sir,
we have working in Textile Company. we have inform you there are 2 EPCG License are closed but these license are against EO are balance so I am asking you this EO balance value are used in another closed for licensed.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

06 March 2012 as per foreign Trade policy procedure, The concerned Regional authority, may consider one or morerequest for grant of extension in export obligation period for a period of 2 years, on payment of a composition fee of 2% of the total duty saved under the Authorisation or an enhancement.

also read the link:

https://www.caclubindia.com/experts/epcg-licence-358240.asp

Shyam

Shyam (Querist)

06 March 2012 Dear sir,
we have 2 EPCG License which is closed, but against this one ,we have balance EO. so now I want ask you that can we used that balance export obligation value are used in another licensed?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

06 March 2012 Paragraph 5.11 of Handbook has been amended to provide that extension of export obligation period beyond 8+2 years can be considered for a further extension upto 2 years with a condition that 50% of duty payable in proportion to the unfulfilled export obligation is paid by the licence holder to the Customs authorities. Notification No. 97/2004-Customs dt. 17.9.2004 has been amended by notification No. 43/2006-Customs dt. 5.5.2006 and may be perused for details. Further, paragraph 5.18 of the Handbook dealing with clubbing of EPCG licences has been amended to restore the provisions of licences having been issued during the same licensing year and for export of the same product(s) or same services, as obtaining prior to 8.4.2005.

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