The Export Promotion Capital Goods (EPCG) Scheme aims to make it easier to import capital goods for the production of high-quality goods and services while also improving India's manufacturing competitiveness. The EPCG Scheme provides zero-duty imports of capital goods for pre-production, production, and post-production.
Capital goods utilised in the manufacture of items that are exported to other nations are known as export promotion capital goods. It contains both machines and spare parts. As a result, the commodity made in India must be exported outside of India to qualify as Export Promotion Capital Goods.
The exporter can import capital goods duty-free (zero customs duty) under the EPCG Scheme, but must export finished goods worth six times the actual duty saved value within six years. The EPCG Scheme's primary objective is to boost India's manufacturing competitiveness.
Many countries and regions employ export promotion to market their companies' goods and services abroad. This is beneficial to the trade balance and the economy as a whole. Export promotion can also include incentive packages to encourage more businesses to export.
The Export Promotion Capital Goods (EPCG) License, as the name implies, is designed to encourage exports. It permits the import of capital goods at a customs duty rate of 3% if an Export Obligation of eight times the duty saved is met within eight years of the Authorization's issuance date.
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