NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings  ||  Delhi High Court: In Matters of Medical Evaluation, Courts Should Exercise Restraint  ||  Delhi HC: Any Person in India Has Right to Legally Import Goods from Abroad and Sell the Same  ||  Delhi HC: Waiver to Section 12(5) of Arbitration Act to be Given Once Tribunal is Constituted  ||  Supreme Court Has Asked States to Regularise Existing Court Managers  ||  SC: Union & States to Create Special POSCO Courts on Top Priority  ||  SC Upholds Authority of CERC to Award Compensation for Delays  ||  SC: Arbitral Tribunal Has Discretion to Include in Sum Awarded, Interest at Rate as it Deems Reasonab  ||  SC: Cannot Use Article 142 to Frame Guidelines on Judicial Recusal  ||  SC: Satisfaction Recorder in One EP Won’t Affect Subsequent EPs for Future Breaches    

Amendment in para 5.25 of HBP 2015-20 of the Handbook of Procedures (HBP) of Foreign Trade Policy (FTP) 2015-20- (Ministry of Commerce and Industry) (09 Oct 2017)

MANU/DGFT/0108/2017

Customs

In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP), 2015-20, the Director General of Foreign Trade, hereby makes amendments in para 5.25 of the Handbook of Procedures (HBP) of FTP 2015-20, with immediate effect (changes /additions made are in bold letters).

2. The revised para 5.25 of HBP 2015-20 of FTP 2015-20 would be substituted to read as under :

Para 5.25: Re-Export/Repair/Replacement of Capital Goods Imported under EPCG Scheme

(a) Capital Goods imported under EPCG scheme, which are found defective or unfit for use, may be re-exported to foreign supplier within three years from the date of clearance by Customs of such goods, with permission of RA / Customs Authority. Consequently, EO would be re-fixed.

(b) Capital Goods imported and found defective or otherwise unfit for use may be exported, and Capital Goods in replacement thereof be imported under EPCG scheme. In such cases, while allowing export, the Customs shall credit the duty benefit availed which can be debited again at the time of import of such replaced Capital Goods.

(c) Capital Goods imported under EPCG Scheme, may be re-exported for repairs abroad within three years from the date of clearance by Customs of such goods, with permission of RA/Customs Authority. The duty component on the expenditure incurred on the repairs as well as the insurance and the freight, both ways shall be taken into account for re-fixation of the EO.

3. Effect of this Public Notice:

Para No.5.25 of the Handbook of Procedures of FTP 2015-20 has been amended.

Tags : AMENDMENT   PROCEDURES   FOREIGN TRADE POLICY  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved