Epcg non fulfilment penalty confusion

600 views 3 replies

My Epcg is of 4 Lakhs from Jan -2012 to Dec 2019.

First block of 50 % export is not fulfilled by me till Dec -2017.

I am not getting block wise extension now. I have two queries-

 

1. I will do remaining export of block 2. What will be duty penalty and interest. Will it be on whole duty of 4lakhs +Interest. Or it will be proportionate to first block only is 2lakh plus interest.

 

2. If I fail to do the remaining export also. What will be the duty and interest.

 

3. Is there any limit on interesr.? From which date interest is calculated. It is simple interest or compounded annually.?

Replies (3)


Refer to Para 2.58 of FTP 2015-20 to allow extension of block-wise EOP, as the party could not apply to RA within the prescribed time period. This shall be subject to payment of 2% composition fee on the duty saved amount in proportion to the shortfall at the end of first block in terms of the provisions of Para 5.8.3 of HBP2009-14, subject to payment of composition fee of Rs.5000/- against the authorisation.

Sir, but we should apply within three months of expiry of first block. And my block expired 14months ago
Apply for redemption at the earliest if Specific and Average EO is complete.
-dgftguru.com

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details