How do you calculate average export obligation under EPCG?
The specific export obligation is calculated as 6 times of duty saved value i.e. 8,26,560 *6 =49,59,360 INR to be completed in 6 years.
What is export obligation period?
My export obligation period is defined for six years from the date of issuance of the authorisation. This six-year period is divided into two blocks, namely, the first block and the second block. The first block period is for the first four years from the date of issuance of the authorisation.
What is EO in EPCG?
5.04 Export Obligation (EO) a) EO shall be fulfilled by the authorisation holder through export of goods which are manufactured by him or his supporting manufacturer / services rendered by him, for which the EPCG authorisation has been granted.
What is export obligation discharge certificate?
On being satisfied, RA concerned shall issue a certificate of discharge of export obligation to the EPCG authorization holder and send a copy to customs authorities with whom BG/LUT has been executed. RA shall ensure disposal of such applications within 30 days.
What is export obligation under advance Authorisation?
Export Obligation (EO) in the case of Advance Authorisation is the value of export that needs to compulsorily be achieved within a prescribed time period. The EO is usually mentioned in the Authorisation issued. After achieving the EO, the entity has to provide evidence of the same.
What is ANF 5B?
Page 1. ANF- 5B. Application Form for Redemption of EPCG Authorization /Issuance of Post Export EPCG Duty. Credit Scrip)
What is the normal period for which EPCG Authorisation will be issued?
As per present Foreign Trade Policy 2009-14 supplemented by different notifications time to time, the normal validity period of zero duty EPCG Authorization is 9 months and that of 3\% EPCG Authorization is 24 months.
How are net exports calculated?
Net exports are a measure of a nation’s total trade. The formula for net exports is a simple one: The value of a nation’s total export goods and services minus the value of all the goods and services it imports equal its net exports. A nation’s net exports are thus a component of its overall balance of trade.
What is DEPB scheme in export?
DEPB (Duty Entitlement Pass Book ) is an export incentive scheme of Indian Government provided to Exporters in India. The DEPB rates allows import of any items except the items which are otherwise restricted for imports. Items such as Gold Nibs, Gold Pen, Gold watches etc.
How can I check my EODC status online?
The EODC monitoring system (website) can be accessed at http://eodc.online. It is designed for monitoring the progress of EODC applications of Advance & EPCG authorizations.
What is EPCG scheme?
EPCG scheme enables the import of capital goods that are used in the pre-production, production, and post-production without the payment of customs duty.
How do I close advance license from DGFT?
The given facility may be utilized for Redemption, Surrender, Duty Paid Regularization, Bond Waiver or the Clubbing of Advance Authorizations. Authorization Holder can utilize the given facility by navigating online to DGFT Website → Services → Advance Authorization/DFIA → Closure of Advance Authorization.
What is the export obligation for EPCG license?
The exporter has to export goods worth 6 times the duty saved value in a period of 6 years. This is to be done over and above the Average export. The Authorization holder needs to complete a minimum of 50\% of Export Obligation (SEO) in the first 4 years from the issuance date of the EPCG license.
What is the EPCG scheme?
EPCG Scheme allows the Exporter to import Capital Goods/Machinery required for the production of export goods at zero customs duty. The only condition to get the benefits under the EPCG scheme is that you have to export goods worth 6 times the duty saved amount in 6 years. Purpose of the EPCG Scheme?
What are the requirements for specific export obligation?
The Authorization holder needs to complete a minimum of 50\% of Export Obligation (SEO) in the first 4 years from the issuance date of the EPCG license. The remaining SEO needs to be fulfilled in the 5th and 6th years which is known as the second block for Specific Export Obligation.
What is exportexport promotion capital goods scheme?
Export Promotion Capital Goods (EPCG) scheme allows import of capital goods including spares for pre production, production and post production at zero duty subject to an export obligation of 6 times of duty saved on capital goods imported under EPCG scheme, to be fulfilled in 6 years.