Foreign Trade Procedures 2008-2009 - Directorate General of ...
Foreign Trade Procedures 2008-2009 - Directorate General of ... Foreign Trade Procedures 2008-2009 - Directorate General of ...
5.8 The Authorisation holder under the EPCG scheme shall fulfill theexport obligation over the specified period in the followingproportions:Period from the date of Minimum export obligationissue of Authorisation to be fulfilledBlock of 1 st to 6 th year 50%Block of 7 th and 8 th year 50%5.8.1 In respect of Authorisations, on which the value of duty saved isRs.100 crore or more, the export obligation shall be fulfilled overa period of 12 years in the following proportion:-Period from the date of Minimum export obligationissue of Authorisation to be fulfilledBlock of 1 st to 10 th year 50%Block of 11 th and 12 th year 50%5.8.2 However, the export obligation of a particular block of year maybe set off by the excess exports made in the preceding blockyear. The Authorisation holder would intimate the regional authorityon the fulfillment of the export obligation, as well as averageexports, within three months of completion of the block, by securedelectronic filing using digital signatures.5.8.3 Where export obligation of any particular block of years is notfulfilled in terms of the above proportions, except in such caseswhere the export obligation prescribed for a particular block ofyears is extended by the Regional Authority for authorizations uptoRs.50 crores, and by DGFT for other cases, subject to paymentof composition fee of 2% on duty saved amount equal to unfulfilledportion of EO, such Authorisation holder shall, within 3 monthsfrom the expiry of the block of years, pay duties of customs (alongwith applicable interest as notified by DoR) of an amount equal tothat proportion of the duty leviable on the goods which bears thesame proportion as the unfulfilled portion of the export obligationbears to the total export obligation.5.8.4 EPCG Authorisations issued upto 31.3.2000 shall be governedby provisions laid down in paragraph 6.11 in HBP v1 (RE-99).Notwithstanding the same in HBP v1 (RE-99), authorisation holdershall not have to surrender Special Import licence in case of valuewise shortfall.Authorisations issued from 1 st April, 2000 upto 31 st March, 2002shall be governed by provisions of Chapter 6 of HBP v1 (RE-01)as amended from time to time.96
5.8.5 Deleted5.8.6 Deleted.Authorisations issued from 1 st April, 2002 upto 31 st August, 2004shall be governed by provisions of para 5.8 of HBP v1 (RE-02)as amended from time to time.Monitoring of 5.9.1 Authorization holder shall submit to RA concerned by 30 th AprilExport Obligationof every year, report on fulfillment of export obligation. Such reportshall also be submitted electronically on DGFT website. RAconcerned may issue partial EO fulfillment certificate, providedexport performance is proportionately adequate to fulfillment ofexport obligation.Automatic Reduction/ 5.10 If authorization issued has actually been utilized for import of aEnhancement upto 10%value in excess, upto 10% of CIF value / duty saved amount ofof CIF value and Prorataauthorization, authorization shall be deemed to have beenReduction/ Enhancementenhanced by that proportion. Customs shall automatically allowin Export Obligation clearance of goods in excess, upto 10% of authorization value /duty saved amount, without endorsement by concerned RA.In such cases, authorization holder shall furnish additional fee tocover excess imports effected, in terms of CIF value / duty savedamount, to RA concerned, within one month of excess importstaking place. Export obligation shall automatically stand enhancedproportionately.In case of utilization being more than 10%, concerned RA as pertheir financial powers, may endorse as per extant provisions.Authorisation holder shall furnish additional BG/ LUT to thecustoms authority.5.10.1 Similarly, if EPCG authorization holder has utilised authorizationless than the value earmarked in authorization, his export obligationshall stand reduced on prorata basis with reference to actualutilisation of authorization.Extension of Export 5.11 Concerned RA, may consider one or more request for grant ofObligation Periodextension in export obligation period, on payment of compositionfee of 2% of total duty saved under authorization or anenhancement in export obligation imposed to the extent of 10%of total export obligation imposed under authorization, as the casemay be, at the choice of exporter, for each year of extension sought.Such extension can be for a maximum period of 2 years.Extension in EO period beyond two years’ period available above,may be considered, for a further extension upto 2 years with acondition that 50% of duty payable in proportion to the unfulfilled97
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5.8 The Authorisation holder under the EPCG scheme shall fulfill theexport obligation over the specified period in the followingproportions:Period from the date <strong>of</strong> Minimum export obligationissue <strong>of</strong> Authorisation to be fulfilledBlock <strong>of</strong> 1 st to 6 th year 50%Block <strong>of</strong> 7 th and 8 th year 50%5.8.1 In respect <strong>of</strong> Authorisations, on which the value <strong>of</strong> duty saved isRs.100 crore or more, the export obligation shall be fulfilled overa period <strong>of</strong> 12 years in the following proportion:-Period from the date <strong>of</strong> Minimum export obligationissue <strong>of</strong> Authorisation to be fulfilledBlock <strong>of</strong> 1 st to 10 th year 50%Block <strong>of</strong> 11 th and 12 th year 50%5.8.2 However, the export obligation <strong>of</strong> a particular block <strong>of</strong> year maybe set <strong>of</strong>f by the excess exports made in the preceding blockyear. The Authorisation holder would intimate the regional authorityon the fulfillment <strong>of</strong> the export obligation, as well as averageexports, within three months <strong>of</strong> completion <strong>of</strong> the block, by securedelectronic filing using digital signatures.5.8.3 Where export obligation <strong>of</strong> any particular block <strong>of</strong> years is notfulfilled in terms <strong>of</strong> the above proportions, except in such caseswhere the export obligation prescribed for a particular block <strong>of</strong>years is extended by the Regional Authority for authorizations uptoRs.50 crores, and by DGFT for other cases, subject to payment<strong>of</strong> composition fee <strong>of</strong> 2% on duty saved amount equal to unfulfilledportion <strong>of</strong> EO, such Authorisation holder shall, within 3 monthsfrom the expiry <strong>of</strong> the block <strong>of</strong> years, pay duties <strong>of</strong> customs (alongwith applicable interest as notified by DoR) <strong>of</strong> an amount equal tothat proportion <strong>of</strong> the duty leviable on the goods which bears thesame proportion as the unfulfilled portion <strong>of</strong> the export obligationbears to the total export obligation.5.8.4 EPCG Authorisations issued upto 31.3.2000 shall be governedby provisions laid down in paragraph 6.11 in HBP v1 (RE-99).Notwithstanding the same in HBP v1 (RE-99), authorisation holdershall not have to surrender Special Import licence in case <strong>of</strong> valuewise shortfall.Authorisations issued from 1 st April, 2000 upto 31 st March, 2002shall be governed by provisions <strong>of</strong> Chapter 6 <strong>of</strong> HBP v1 (RE-01)as amended from time to time.96
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