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Relaxation in procedure for submission of installation certificate under EPCG Scheme to promote Ease of doing Business- (Ministry of Commerce and Industry) (13 Jul 2023)

MANU/DGFT/0110/2023

Limitation

In exercise of powers conferred under Paragraphs 1.03 and 2.04 of the Foreign Trade Policy, 2023, as amended from time to time, the Director General of Foreign Trade in public interest hereby makes the following relaxation in procedure in respect of acceptance of installation certificate under EPCG Scheme for authorizations issued under FTP, 2009-14 and FTP, 2015-20 (extended upto 31.03.2023).

1. Under the EPCG Scheme, the authorization holders are required to submit the installation certificate confirming installation of the capital goods to the RA within the prescribed time period. DGFT has received a number of requests from authorization holders for condonation of delay in submission of the installation certificate to the RA beyond the prescribed time limit.

2. The issue has been considered. It has been decided that in relaxation of the procedure, the RAs concerned may accept such installation certificates upto 31.12.2023 for regularization purpose on payment of late fee of Rs. 10,000/- per authorization (in addition to composition fee, wherever applicable), subject to the following :-

i. The authorizations have been issued under FTP, 2009-14 and FTP, 2015-20.

ii. The installation certificate was obtained within the prescribed period but the same could not be submitted to the RA within time.

iii. The authorization holder has given bonafide reasons for delay in submission of installation certificate to RA.

iv. The subject EPCG authorization is not under investigation/adjudicated by RA/Customs authority/any other investigating agency.

Effect of this Public Notice: With a view to enhance Ease of Doing Business, a relaxation for delay in submission of installation certificate under the EPCG Scheme is provided.

Tags : CONDONATION   DELAY   INSTALLATION CERTIFICATE  

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