Epcg lics redemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2012 Dear Sir,

In redemption we need to submit original BRC Copy, Original Bill of entry, Original Shipping bill or Copy for these documents.
Plz advise...

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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09 February 2012 Redemption of EPCG Licence Guidelines for Applicants

1. Two copies of the application must be submitted unless otherwise mentioned.
2. Each individual page of the application has to be signed by the applicant.
1. a. Part 1 & Part 4 has to be filled in by all applicants. In case of applications submitted electronically, no hard copies of Part 1 may be submitted. However in cases where applications are submitted otherwise, hard copy of Part 1 has to be submitted.

b. Only relevant portions of Part 2 & Part 3 need to be filled in.
2. Application must be accompanied by documents as per details given below:

XV. Statement of Export/Redemption of EPCG Licence
1. a. For Physical Exports:
1. Consolidated statement of exports made or individual statements (bank/authorized dealer wise) in sub section XV duly certified by a Chartered Accountant as per format given in Appendix 26 and bank evidencing exports and realisation in freely convertible. However, in case of exports made under an irrevocable letter of credit or a bill of exchange is unconditionally Avalised/ Co- Accepted/Guaranteed by a bank and the same is confirmed by the exporters bank, realization of export proceeds would not be insisted upon provided the final receipts are in free foreign exchange and a confirmation is given by the Bank in this regard.
b. For Deemed Exports:
1. Copy of ARO/Back to Back Inland letter of Credit or Advance Licence for Intermediate Supplies or Supply invoices or ARE 3 duly certified by the Bond Office of EOU concerned showing that supplies have been received.
2. Evidence of having received the payment through normal banking channel in the form given in Appendix 22B or a self certified copy of payment certificate issued by the Project Authority concerned in the form given in Appendix-22C.

c. For Services rendered:
1. Consolidated statement or individual statements (bank/authorised dealer wise) of services rendered as given in sub section XV duly certified by a Chartered Accountant as per format given in Appendix 26 and bank/authorised dealer evidencing foreign exchange earning received through normal banking channel.
2. Copy of licence showing the date of clearance of the first consignment
3. Customs purpose copy of EPCG Licence
1. At the time of redemption, the licence holder shall also submit certificate from the Independent Chartered Engineer confirming the use of spares so imported under the Scheme in the installed capital goods on the basis of stock & consumption register maintained by licence holder.

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