Para 6.8
- Document type
- Procedure
- Dated
- Category
- HB Vol.1 ( upto 31/03/2002)
Consideration Of Applications
6.8 The applicant may apply for EPCG licence to the competent authority on the basis of self declaration subject to final fixation of nexus by Hqrs. EPCG Committee as per the financial power given in the table below. The applicant shall give an undertaking that in case the Hqrs EPCG Committee disallows the Capital Goods including Jigs, fixtures, dies, moulds and spares, the license holder shall pay Customs duty together with 24% interest on such goods.
The regional licensing authority, after issuance of the license, shall forward a copy of the application along with a copy of the license to the Hqrs. EPCG Committee for its approval within 7 days of the issuance of the license except in such cases where the nexus norms have already been communicated by the Headquarters in any case or the same is already established on the basis of the EPCG licences, issued in the past by the Regional Licensing Authority. Hqrs. EPCG Committee shall finalise the nexus within six months from the date of issuance of licence failing which the nexus as applied for shall be treated as final. However, where the application for fixation of nexus is rejected on account of non furnishing of documents/ information, the licence holder shall be liable to pay Customs duty together with 24% interest on such goods.
The regional licensing authority, after issuance of the license, shall forward a copy of the application along with a copy of the license to the Hqrs. EPCG Committee for its approval within 7 days of the issuance of the license except in such cases where the nexus norms have already been communicated by the Headquarters in any case or the same is already established on the basis of the EPCG licences, issued in the past by the Regional Licensing Authority. Hqrs. EPCG Committee shall finalise the nexus within six months from the date of issuance of licence failing which the nexus as applied for shall be treated as final. However, where the application for fixation of nexus is rejected on account of non furnishing of documents/ information, the licence holder shall be liable to pay Customs duty together with 24% interest on such goods.
| CIF VALUE | COMPETENT AUTHORITY |
| Upto Rs. 50 Crore. | Regional Licensing Authority concerned |
| Above Rs. 50 Crore | Headquartes EPCG Committee |