Machinery purchased under epcg scheme at 3% duty

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N.Nagarajan (Querist)
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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

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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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,