What is export EPCG scheme?
It was first operationalized on 1 April 2015 and under this scheme, capital goods imported for the manufacture of export products enjoy zero or concessional rates in the customs duty. The imported capital goods include spare parts for production i.e. pre and post-production.
Who are eligible for EPCG scheme?
1 Who are eligible to avail of the EPCG Scheme? A. The manufacturers, Exporters and Merchant Exporters are eligible to avail of this Scheme. Q.
What are the objectives of EPCG scheme?
The objective of the EPCG Scheme is to facilitate import of capital goods for producing quality goods and services and enhance India’s manufacturing competitiveness. (iv) Catalysts for initial charge plus one subsequent charge.
What is Mai scheme?
Market Access Initiative (MAI) Scheme is an Export Promotion Scheme envisaged to act as a catalyst to promote India’s exports on a sustained basis. The scheme is formulated on focus product-focus country approach to evolve specific market and specific product through market studies/survey.
When did EPCG scheme start?
The Export Promotion Capital Goods (EPCG) scheme was one of the several export-promotion initiatives launched by the government in the early ’90s.
Which goods can be imported under the EPCG scheme?
(a) EPCG Scheme allows import of capital goods (except those specified in negative list in Appendix 5 F) for pre-production, production and post- production at zero customs duty. Capital goods imported under EPCG Authorisation for physical exports are also exempt from IGST and Compensation Cess upto 30.09.
What is export promotion scheme?
1. EXPORT PROMOTION SCHEMES. Foreign Trade Policy 2015-20 and other schemes provide promotional measures to boost India’s exports with the objective to offset infrastructural inefficiencies and associated costs involved to provide exporters a level playing field.
What is Target Plus scheme?
Background: Target Plus Scheme as a part of Foreign Trade Policy was announced on 31.08. 2004 w.e.f. 01.04. 2004. The objective was to accelerate growth in exports by rewarding Star Export Houses with minimum threshold export turnover of ₹ 10 Crore in the previous year.
What is focus product scheme?
Focus Product Scheme (FPS) FOCUS PRODUCT SCHEME (FPS) Objective: To incentivise export of select products that have high export intensity / employment potential, thereby to offset infrastructure inefficiencies and other associated costs involved in marketing of these products.
How is export obligation calculation 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 promotion capital goods (EPCG) scheme?
EPCG (Export Promotion Capital Goods) Scheme helps in facilitating the import of capital goods for manufacturing quality goods and to augment the competitiveness of India’s export. 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.
What is an EPCG scheme?
EPCG Scheme (Export Promotion Capital Goods Scheme) This is a Scheme that enables an importer (being an export-oriented business) to import capital goods at zero rates of customs duty.
What happens if the holder of EPCG authorisation fails to meet export obligations?
If a holder of the EPCG authorisation is unable to meet the stipulated export obligation, the importer of the capital goods is required to pay customs duties along with interest on it as prescribed.
Can the EPCG scheme be continued in the leather & footwear sector?
Among other things, it has recommended that EPCG Scheme may be continued in the leather & footwear sector by removing annual average export obligation conditions for leather, leather products and footwear. What is the EPCG scheme?