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