What Are the Key Features of the EPCG Scheme
12/09/2024 Other Services
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Description
The Export Promotion Capital Goods (EPCG) Scheme is designed to encourage the import of capital goods for producing high-quality goods and services that boost exports. One of its key features is the zero customs duty on eligible capital goods imports, helping reduce production costs. The scheme mandates export obligations, requiring the export of goods equivalent to six times the duty saved within six years. It covers a wide range of sectors, including manufacturing, services, and agro-industries. Additionally, EPCG Scheme allows the import of both new and second-hand capital goods. It also offers flexibility with transferable duty credit scrips. By reducing costs and enhancing global competitiveness, the EPCG Scheme plays a pivotal role in promoting exports and fostering growth in India's international trade.
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