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Goods when imported into India by an importer under the Export Promotion
Capital Goods (EPCG) Scheme in terms of para 46 of the Export and Import Policy,
1992-1997
Notification
No. 307 dated 28th December 1992 (As
amended by notification nos. 125/93, 101/95,108/95)
In
exercise of the powers conferred by sub-sections (1) of section 25 of the
Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it
is necessary in the public interest so to do, hereby exempts goods of the
description specified in column (2) of the Table annexed hereto when imported
into India by an importer specified in column (3) of the said Table from so much
of the duty of Customs leviable thereon which is specified in the First schedule
to the Customs Tariff Act, 1975(51 of 1975) as is in excess of the amount
calculated at the rate specified in the corresponding entry in column(4) of the
said Table and the whole of the additional duty leviable thereon under Section 3
of the said Customs Tariff Act, subject to the following conditions, namely: -
(i)
that the goods are covered by a valid licence issued on or before 30th
April 1995, under the Export Promotion Capital Goods (E.P.C.G.) Scheme in terms
of para 46 of the Export and Import Policy (hereinafter referred to as the
Policy) and the said licence is produced for debit at time of clearance;
(ii)
that the said licence specifies, inter-alia-
(a)
the description, quantity and value of goods allowed to be imported under the
said licence,
(b)
the description and quantity of the capital goods to be assembled or
manufactured;
(iii)
that the importer at the time of clearance, shall produce to the
Assistant Commissioner of Customs, a certificate from the Licensing Authority
for having executed a bond under paragraph 45 of the policy; and
(iv)
that the importer at the time of clearance of the goods shall make a
declaration before the Assistant Commissioner of Customs, in such form as the
said Assistant Commissioner may specify, binding himself to pay on demand an
amount equal to the duty leviable on such goods but for the exemption contained
herein in respect of which the conditions
specified in the column (2) and (3) of the
Table are not complied with.
(v)
where the licensing authority grants an extension of the period
for fulfilment of export obligation or regularisation of shortfall in export
obligation not exceeding 5% of such export obligation, in terms of, and subject
to satisfaction of such conditions as may be specified in a Public Notice of the
Government of India in the Ministry of Commerce in this regard, the said period
of fulfilment of export obligation may be extended, but shall in no case be
extended beyond the 31st March 2002, and the said short fall in
export obligation condoned by the Assistant Commissioner of Customs or the
Deputy Commissioner of Customs, as the case may be.
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S.
No.
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Description
of goods
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Description
of importer
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Rate
of duty
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(1)
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(2)
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(3)
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(4)
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1.
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Capital
goods in SKD/ CKD condition or components of capital goods required for
assembly or manufacture of capital goods; and spare parts not exceeding
10% of the value of such capital goods in SKD/ CKD condition or
components of capital goods actually imported and required for the
maintenance of capital goods so assembled or manufactured.
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Importer
undertaking an export obligation equivalent to three times the C.I.F
value of the goods specified in column (2) over a period of four years
under paragraph 38 of the Policy.
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25%
adv.
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2.
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Capital
goods in SKD/ CKD condition or components of capital goods required for
assembly or manufacture of capital goods; and spare parts not exceeding
10% of the value of such capital goods in SKD/ CKD condition or
components of capital goods actually imported and required for the
maintenance of capital goods so assembled or manufactured.
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Importer
undertaking an export obligation equivalent to four times the C.I.F.
value of the goods specified in column (2) over a period of five years
under paragraph 38 of the Policy.
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15%
adv.
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Explanation:
In this notification-
(i)
�Capital goods� means any plant, machinery, equipment or accessories
required by an importer for, -
(a)
manufacture or production of goods and includes packaging machinery and
equipment, refractories, refrigeration equipments, power generating sets,
machine tools, catalysts for initial charge required for, and imported
alongwith, capital equipments, equipments and instruments for testing,
research and development, quality and pollution control;
(b)
use in manufacturing, mining, agriculture, acquaculture, animal husbandry,
floriculture, horticulture, pisciculture, poultry and sericulture.
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