Machinery purchased under epcg scheme at 3% duty
This query is : Resolved
N.Nagarajan
(Querist)
08 June 2012
Dear All,
When a Machinery purchased under EPCG Scheme can we transfer it to our group companies. Is there any provision to do the same.
Please clarify.
Thanks & Regards,
N.Nagarajan
Mobile No: 9751750588
When a Machinery purchased under EPCG Scheme can we transfer it to our group companies. Is there any provision to do the same.
Please clarify.
Thanks & Regards,
N.Nagarajan
Mobile No: 9751750588
RAMESH KUMAR VERMA
(Expert)
08 June 2012
Refer to para 5.7.6 (c) Of handbook of procedures vol-1 (2009-2014) Goods exception tools imported under EPCG scheme by such sectors, shall not be allowed to be transferred for a period of 5 year from date of imports even in cases where export obligation has been fulfilled . However, Transfer of capital goods to Group companies, within 5 year from the Date of import would be permitted after fulfillment of E.O., under intimation to RA & Jurisidictional central excise Authority.
Regards,
Regards,
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