EODC/REDEMPTION OF ADVANCE and EPCG AUTHORIZATIONS

EODC/REDEMPTION OF ADVANCE & EPCG AUTHORIZATIONS

The Liability of the Authorization holder is released just when he reclaims the Authorization.In other words,he presents the narrative proof of shipment and acknowledgment of commodity continues to DGFT and acquires Export Obligation Discharge Certificate from DGFT .Thereafter,he presents these reports including EODC to Custom Authorities and gets recovery of Bond/BG executed at the hour of Imports.
This methodology is vital since, supposing that Authorizations are not reclaimed in time then the Authorities can make a legitimate move against the blundering exporter and pronounce him defaulter and deny him all further product benefits.

Technique FOR REDEMPTION OF ADVANCE AUTHORIZATIONS

For Physical Exports

Approval Holder needs to make an application to DGFT (as recommended by DGFT in ANF – 4F) alongside the accompanying reports :
Duplicate of Ebrc;
Self bore witness to duplicates of Shipping Bill;
Proclamation of products and imports made and real utilization of contributions to the thing sent out properly guaranteed by C.A.;
On the off chance that where Input Tax Credit is profited for the sent out products then the sources of info imported under AA will be used distinctly for the assembling of dutiable merchandise for which the Authorization holder will create an endorsement from either the Jurisdictional Central Excise Authority/Customs Authority or a C.A.;
Record of Consumption and Utilization of obligation free contributions to the recommended structure in Appendix 4H properly confirmed by C.A. .

For Deemed Exports

A copy of Tax Invoice for supplies as prescribed under GST rules duly signed by the unit receiving the material and their jurisdictional excise/customs authorities certifying the item of supply ,its quantity, value and date of such supply;
Installment Certificate from the Project Authority upheld by Ebrc;
An assertion of provisions giving subtleties of supply solicitations and showing the receipt number,date,FOR esteem according to Invoices and depiction of item;
An assertion of imports demonstrating Bill of passage shrewd thing of imports,quantity of imports and its CIF esteem;
In the event that where Input Tax Credit is profited for the traded merchandise then the sources of info imported under AA will be used distinctly for the assembling of dutiable products for which the Authorization holder will deliver a testament from either the Jurisdictional Central Excise Authority/Customs Authority or a C.A..

PROCEDURE FOR REDEMPTION OF EPCG AUTHORIZATIONS

Authorization Holder has to make an application to DGFT (as prescribed by DGFT in ANF 5B) along with the following documents :-
1. A C.A.Certificate in a prescribed form by DGFT in Appendix 5C accompanied by a Statement giving details of Shipping Bills and eBRCs towards fulfillment of EO.
2. Original EPCG Authorization;
3. Self certified copies of Bill of entry
4. Installation Certificate.
On receipt of EODC from DGFT submit all the above documents along with EODC to Customs Authorities for Cancellation of Bond/BG executed at the time of import.

Regularization of Bonafide Default

Regularization of Bonafide Default
If EO is fulfilled in terms of value,but there is shortfall in terms of quantity ,the Authorisation Holder shall pay:
i) Customs duty on unutilized value of imported input along with interest @ 15%.
ii)3% of the CIF value of the unutilized imported material ,if the item is under restricted category.
If the EO is fulfilled in quantity but there is shortfall in value ,no penalty if the Authorization holder has achieved Minimum value addition.Howeve, if Value Addition falls below Minimum then he is required to pay 1% on the shortfall in FOB value in Indian Rupee.

SERVICES

CONTACT CONSULTANCY SERVICES

Administration Exports from India Scheme (SEIS)

Advance Authorization Scheme

Bond Cancellation of EPCG License

Brand Rate Drawback

Obtaining of Utilisation/Non Utilization Certificate from Customs

All Industry Drawback

Section 3 Licenses

Revalidation /EOP Extension in Advance License

EODC/REDEMPTION OF ADVANCE & EPCG AUTHORIZATIONS

DGFT CONSULTANCY SERVICES