Epcg obligation calculation - USD or INR.?

813 views 3 replies

Harsh

Business

6 Points Posted on 21 September 2019

Epcg authorisation (3%) EO is to be fulfilled on USD or INR Values.

Our epcg is 7years old. Amounts mentioned are 1lakh USD and 50lakhs INR. But now USD rose to 72.

We need to do export of 50lakhs INR or 1lakh USD(72lakhs).

We are selling goods to merchant and he is mentioning our number in export documents.

Further question, EO will be calculated on amount received in our account or exporters account.

FYI, we procured capital goods from India only. We did not do direct import.

Replies (3)

Kunal Mittal

FINANCE OFFICER

580 Points Posted on 21 September 2019

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