Export Promotion Capital Goods (EPCG) License, as the name suggests, is intended to act as a stimulus for exports. It allows import of capital goods at 3% Customs Duty subject to the condition that an Export Obligation of eight times the duty saved is to be fulfilled within 8 years of Authorization issue date. Apart from other financial assistance for exporters, you can get exemption of 100% import duty amount while importing such machineries. When obtaining EPCG license from government, you guarantee that you will export required amount or quantity of goods for next 5 years. EPCG is a good facility provided to exporters and importers by government on exemption of import duty amount. It is of interest and grave concern for local businesses that are either into importing or exporting heavily with other companies abroad. It is a scheme which was introduced by government to incentivize exports and can serve to benefit industries and companies belonging to any field whatsoever. It consists of waiving of import duty on products imported and in return, a certain amount of performance or discharge of export is expected from you. In some of the exceptional cases, the time for the fulfillment can be extended up to 12 years for the same.
The team of OSL is highly experienced in dealing with the customs regarding the EPGC license provision and our skillfully trained EPGC consultants will help you obtain EPCG license For Customs and deal with all the paperwork and documentation to make sure that your license is obtained with the minimum obstacles.
DGFT MEIS License
The merchandise export from India Scheme (MEIS) scheme is a newly launched incentive by government as a part of the new foreign trade policy which is applicable from 2015 to 2020. This new scheme goes on to replace 5 similar incentive schemes which were available earlier under the foreign trade policy 2014-19. The government has allocated more than Rs. 22,000 crore per annum for exports.
The new foreign trade policy for 2015-20 has refurbished the incentives and rewards for the merchandise exporters. The previous schemes that have been replaced by the new MEIS scheme include:
The aim of introduction of this scheme is to make India’s products more competitive in the global market by providing incentive in the form of duty credit scrip to the exporter to compensate for his loss on payment of duties during trade. The incentive is paid as percentage of the attained FOB value (in free foreign exchange) for notified goods going to notified markets. In order to facilitate and assure your complete claim of the scheme, we provide you our trained MEIS consultants who will guide you through the process of MEIS license Registration for Customs. We offer the benefit of MEIS license Sale Purchase through our associated MEIS consultant who coordinate efficiently with you and the authorities.