%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(16).png "DGFT Enhanced EPCG Scheme to Boost Efficiency and Competitiveness")
- Here are the key changes:
- Extended Period for Installation Certificates (ICs):
- Exporters now have an extended period of 3 years to submit Installation Certificates (ICs) for imported capital goods. Previously, ICs were required to be uploaded within 6 months from the date of import.
- In the case of import spares, the IC must be uploaded within 3 years from the date of import.
- The Registration Authority (RA) can further extend this period up to a valid Export Obligation (EO) period by paying a composition fee of Rs 10,000 per year.
- This extension eases pressure on businesses, allowing them to focus more on production and export activities.
- Simplified Composition Fee Structure for EO Extension:
- The scheme introduces a new simplified and reduced composition fee structure for extending the EO period.
- This change minimizes manual intervention, streamlines compliance, and speeds up service delivery.
- Uniform Composition Fees for EO Extensions and Regularization of Exports:
- The Policy Relaxation Committee (PRC) decisions regarding EO extensions and regularization of exports now have uniform composition fees:
- Rs 30,000 (for duty saved value of EPCG authorization issued up to Rs 2 crores)
- Rs 60,000 (for EPCG issued for more than Rs 2 crores to 10 crores)
- Rs 1 lakh (for EPCG issued above Rs 10 crores)
- Different Timelines for EO Period Extension:
- Requests for extension of EO period must be made within 6 months from the date of expiry of the 1st block-wise EO period.
- The composition fee varies based on the duty saved value of the EPCG authorization.
Question:
1 What is the composition fee for extending the Export Obligation (EO) period for EPCG authorizations with a duty saved value up to Rs 2 crores?
- A) Rs 10,000
- B) Rs 30,000
- C) Rs 60,000
- D) Rs 1 lakh
