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Notification No. 49 /2002-Customs Dated 24.4.2002
Amendments in EPCG notifications Nos 111/95, 28/97, 29/97 and 49/2000

                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 amendments in the notifications of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table below in the corresponding manner as specified in column (3) of the said Table, namely: -

Table

Sl.No.

Notification No. and Date

Amendment

(1)

(2)

(3)

1.

GSR 481(E), dated the 5th June 1995 111/95-Customs, dated the 5th June, 1995

In the said notification, in paragraph 2, -

    1. in condition (3), for the proviso, the following provisos shall be substituted, namely: -

      "Provided that where the CIF value of licence is not less than Rs.100crores, the export obligation shall be fulfilled within a period of 12 years from the date of issue of licence in the following proportions, namely: -

      S.No. Period from the date of issue Proportion of Total

      Of Licence Export Obligation

      (1) (2) (3)

      1. Block of 1st, 2nd, 3rd, 4th and 5th Year Nil

      2. Block of 6th 7th and 8th Year 15%

      3. Block of 9th and 10th Year 35%

      4. Block of 11th and 12th Year 50%:

      Provided further that export obligation of a particular block may be set off by the excess exports made in the said preceding block(s)";

    2. for condition (8), the following condition shall be substituted, namely:-

"(8) Notwithstanding anything contained in conditions (4) and (5), where the Licensing Authority grants extension of blockwise period for any block(s) or overall period of fulfilment of export obligation upto a period of two years or regularisation of shortfall in export obligation not exceeding 5 per cent of such export obligation, the said blockwise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs or Deputy Commissioner of Customs;"

Provided that in respect of licence of CIF value not less than Rs.100crores, the extension of overall period of export obligation shall not be allowed.";

2.

GSR 184(E), dated the 1st April, 1997 28/97-Customs dated the 1st April 1997

In the said notification, for condition (6), the following condition shall be substituted, namely: -

"(6) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants extension of year-wise period for any year(s) or overall period of fulfilment of export obligation upto a period of two years or regularisation of shortfall in export obligation not exceeding 5 per cent of such export obligation, the said year-wise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs or Deputy Commissioner of Customs.";

3.

GSR 185(E), dated the 1st April, 1997 29/97-Customs, dated the 1st April, 1997

In the said notification, in paragraph 2, -

  1. in condition (2), for the portion beginning with the words "Provided that export" and ending with the words "Provided further that", the following shall be substituted, namely: -

    "Provided that where the CIF value of licence is not less than Rs.100crores, the export obligation shall be fulfilled within a period of 12 years from the date of issue of licence in the following proportions, namely: -

    S.No. Period from the date of issue Proportion of Total

    Of Licence Export Obligation

    (1) (2) (3)

    1. Block of 1st, 2nd, 3rd, 4th and 5th Year Nil

    2. Block of 6th 7th and 8th Year 15%

    3. Block of 9th and 10th Year 35%

    4. Block of 11th and 12th Year 50%:

    Provided further that export obligation of a particular block may be set off by the excess export made in the said preceding block(s):

    Provided also that.";

  2. for condition (7), the following condition shall be substituted, namely, -

"(7) Notwithstanding anything contained in conditions (3) and (4), where the Licensing Authority grants extension of blockwise period for any block(s) or overall period of fulfilment of export obligation upto a period of two years or regularisation of shortfall in export obligation not exceeding 5% of such export obligation, the said blockwise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs or Deputy Commissioner of Customs:

Provided that in respect of licence of CIF value not less than Rs.100crores, extension of overall period of export obligation shall not be allowed.";

4.

GSR 365(E), dated the 27th April, 2000 49/2000-Customs, dated the 27th April, 2000

In the said notification, in paragraph 2, -

  1. in condition (2),-

    for the proviso, the following provisos shall be substituted, namely:-

    "Provided that where the CIF value of licence is not less than Rs.100crores, the export obligation shall be fulfilled within a period of 12 years from the date of issue of licence in the following proportions, namely: -

    S.No. Period from the date of issue Proportion of Total

    Of Licence Export Obligation

    (1) (2) (3)

    1. Block of 1st, 2nd, 3rd, 4th and 5th Year Nil

    2. Block of 6th 7th and 8th Year 15%

    3. Block of 9th and 10th Year 35%

    4. Block of 11th and 12th Year 50%:

    Provided further that export obligation of a particular block may be set off by the excess export made in the said preceding block(s).";

  2. for condition (6), the following condition shall be substituted, namely, -

"(6) Notwithstanding anything contained in conditions (3) and (4), where the Licensing authority grants extension of blockwise period for any block(s) or overall period of fulfilment of export obligation upto a period of two years or regularisation of shortfall, in export obligation, not exceeding 5 per cent of such export obligation, the said block-wise period or overall period of export obligation may be extended and the said shortfall in export obligation be condoned by the Assistant Commissioner of Customs or Deputy Commissioner of Customs:

Provided that in respect of licence of CIF value not less than Rs.100crores, the extension of overall period of export obligation shall not be allowed.".

Alok Jha
Under Secretary to the Government of India

F.No. 605/201/2001-DBK

Note: The principal notification No. 111/95–Customs, dated the 5th June, 1995 was published in the Gazette of India, Extraordinary vide G.S.R. No. 481(E), dated the 5th June, 1995 and was lastly amended by notification No. 52/2000-Customs, dated, the 28th April, 2000 vide GSR No. 370(E), dated, the 28th April, 2000. The principal notification No. 28/97-Cusotms, dated, the 1st April, 1997 was published in the Gazette of India, Extraordinary vide GSR No. 84 (E), dated, the 1st April, 1997 and was lastly amended by notification No.52/2000-Customs, dated, the 28th April, 2000 vide GSR No. 370(E), dated, the 28th April, 2000. The principal notification No. 29/97-Cusotms, dated, the 1st April, 1997 was published in the Gazette of India, Extraordinary vide GSR No. 185 (E), dated, the 1st April, 1997 and was lastly amended by notification No.58/2001-Customs, dated, the 30th May, 2001 vide GSR No. 399(E), dated, the 30th May, 2001. The principal notification No. 49/97-Cusotms, dated, the 27th April, 2000 was published in the Gazette of India, Extraordinary vide GSR No. 365 (E), dated, the 27 April.