Extention of EO Period for EPCG Licences
In
exercise of the powers conferred by sub-section (1) of section 25 of the Customs
Act, 1962 (52 of
1962), the Central Government, being satisfied that it is necessary in the
public interest so to do, hereby makes the following further amendment in the
notification of the Government of India in
the Ministry
of Finance
(Department of Revenue), No. 29/97- Customs dated 1st April, 1997, namely:-
In
the said notification, in paragraph 2, in condition (7), after the second
proviso, the following proviso shall be inserted, namely:-
“Provided
also that where the importer fulfils 60% or more of the export obligation within
the period of 8 years, the licensing authority may grant extension of the period
of export obligation by two years (including the period of one year specified in
the preceding proviso)”.
Sd/- |
N.K. Sinha |
|
Under Secretary to the Government of India |
Note: Notification No.29/97-Cus- dt 1st April 1997 was last amended by Notification No. 52/2000-Cus dt 28th April, 2000.