Post Export EPCG duty credit scrip(s) Scheme
CBEC has explained the Post Export EPCG duty credit scrip(s) Scheme notified on 5.6.12 vide a new para 5.11 in FTP read with a new para 5.23 in the HBPv1. The scheme envisages that the duty credit in these scrips shall be a duty remission computed based on the basic customs duty paid on capital goods which had been imported on payment of all applicable duties of customs in cash. Subject to installation and use of the imported capital goods, and other conditions including non-disposal of the capital goods till the date of last export, the duty remission may be granted by the Regional Authority in proportion to export obligation fulfilled within a fixed export obligation period. The notification Nos.5/2013-Customs and 6/2013-Customs both dated 18.2.13 have been issued under section 25(1) of Customs Act, 1962 to permit imports through debit of the customs duties in the duty credit scrip.
Board wants the Commissioners to peruse the notifications and Circular for details and implementation.
For more details, please see DDT 2049 - 20.02.2013
Circular No. , Dated: March 06, 2013