Sl No | Particulars | Meanings / Definitions |
1 | EPCG Scheme Definition | Export Promotion Capital Goods |
2 | EPCG Scheme Purpose | To Import Spare Parts for maintenance purposes for existing machinery which is not available in India. |
3 | Benefit | To avail / get Customs Duty Exemption (All Duty Free). |
4 | Obligation – SEO (Specific Export Obligation) | Require to fulfil Export Obligation (SEO), 6 Times of Actual Duty Saved. |
5 | Obligation – AEO (Average Export Obligation) | In addition to SEO, require to fulfil / maintain Average Export Obligation (AEO) till SEO fulfilled year. |
6 | Stipulation – Import | 24 Months from EPCG Date. |
7 | Stipulation – Installation | Require to submit Installation Certificate within 3 years from the date of import. |
8 | Stipulation – Export | 6 years from EPCG Date (50% during 1-4 Years & balance 50% during 5-6 Years) |
9 | Initial Cost / Financial Implication | Govt Fees for EPCG Scheme, Certification Charges for CA, Chartered Engineer, & Consultancy Fee (Service Charges) + 18% GST. |
10 | Liability | In case of non-fulfilment of Export Obligation (EO) within stipulated time, then require to pay Customs Duty Saved along with applicable Interest to Customs Dept. |
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Filing of Appeal for Order in Original (O-i-O), Show Cause Notice (SCN) Reply, Demand Notice reply, Export Obligation Monitoring (EOM) Reply, Directorate of Revenue Intelligence (DRI) Reply, Customs Audit Query Reply