Corporate Updates – 13-10-2017


The Director General of Foreign Trade has made amendments in Para 5.25 (Re-Export / Repair / Replacement of Capital Goods Imported under EPCG Scheme) of the Handbook of Procedures (HBP) of FTP 2015-20, with immediate effect. As per the amendments, 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 RAl 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. All other contents of Para 5.25 remain unchanged.


Department of Industrial Policy and Promotion has launched a Scheme of budgetary support under Goods and Service Tax Regime to the units located in States of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North East including Sikkim for a residual period for which each of the units is eligible, a new scheme is being introduced. The new scheme is offered, as a measure of goodwill, only to the units which were eligible for drawing benefits under the earlier excise duty exemption/refund schemes but has otherwise no relation to the erstwhile schemes. The said Scheme shall come into operation w.e.f. 01.07.2017 for an eligible unit and shall remain in operation for residual period. The overall scheme shall be valid upto 30.06.2027. The budgetary support shall be disbursed from budgetary allocation of Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry.

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