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Epcg Licence

Epcg License

EPCG License, similar to the Importer Exporter Code, is of intrigue and worry for indigenous organizations that either import from or trade intensely to organizations abroad. It is a plan acquainted by the legislature with boost sends out and can serve to profit ventures and organizations of assorted types in all segments. It comprises in the postponing of import obligation on items imported in kind for execution or release of a fare prerequisite or commitment to the tune of a few times the import obligation spared inside a preset time. In particular, the administration gifts Import Duty at a negligible 3% of the stipulated charge that would some way or another must be paid subject to the condition that inside a time of 8 years a fare commitment of 8 times the Duty Saved has been tastefully released. In some excellent cases, the ideal opportunity for the satisfaction of this obligation can be stretched out up to 12 years, yet this arrangement isn’t simple notwithstanding for Medium or some Large Scale Enterprises to effortlessly profit, as it applies just to send out commitments surpassing 100 Crore.

Epcg Licence

Advantages of a EPCG Licence

Real client conditions

Import of capital merchandise are liable to Actual User condition till the fare commitment is finished.

Indigenous Sourcing

A man holding an EPCG permit may source the capital products from a household maker as opposed to bringing in them. The residential maker providing capital merchandise to EPCG permit holders should be qualified for discount of Excise Duty paid by him. What’s more the indigenous provider can import his own crude material obligation free and different advantages which can be examined. This choice ought to be embraced with most extreme care since taking discount is an unwieldy and immaculate documentation work.

Fare commitment

The fare commitment should be satisfied by the fare of products fit for being made or delivered by the utilization of the capital merchandise imported under the plan. Esteemed Exports like supplies to Mega Power Projects, Projects financed by WB and ADB, EOUs, SEZ and so on can likewise be used to satisfy the EO

EPCG Licence Process

Enlistment of License

The EPCG License Holder will submit Request Letter/Authority Letter for enlistment of permit, the permit in unique, Bond in endorsed design, bank ensure as material.

Execution of BG

The Bank Guarantee ought to be submitted alongside covering letter of the Bank according to the standards recommended in Board’s Circular No. 58/2004 dated 21.10.2004. Changeless Central Excise Registration Certificate properly confirmed by Jurisdictional Supdt. of Central Excise with Pan Card.

Fare Obligation execution

Regarding Notification No. 44/2002 dated 19.04.2002, 58/2004 dated 21.10.2004, 97/2004 dated 17.09.2004, 64/2008 dated 09.05.2008, the merchants under the EPCG License Scheme need to submit confirmation of their square year astute fare commitment exhibitions.

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