Bank Guarantee(BG) under EPCG As we all know that the guarantee term means giving something as security and a Bank guarantee is when a bank gives the guarantees/surety for the business obligation on behalf of their customers within certain regulations. Thus under EPCG Scheme, the Bank guarantee is the financial instrument/guarantee given by the...
What is EPCG Scheme? Export Promotion Capital Goods (EPCG) scheme was introduced to allow duty-free import of capital goods/machinery for pre-production, production, and post-production of export goods. It is a boon to exporters since they don’t have to pay a big amount of customs duty on the imported capital goods. The best quality of...
The Government of India had introduced the Advance Authorisation Scheme (AAS) under the Foreign Trade Policy(FTP) to allow the duty-free import of raw materials and other inputs required to produce the export goods. The benefits of Advance Authorisation can be availed by the Manufacturer exporter or a Merchant exporter tied with a supporting manufacturer. Redemption/Closure/EODC of Advance...
What is Advance Authorisation for precious metals scheme? To promote the growth of Gem and Jewellery sector the Government of India has introduced the Advance License scheme under foreign trade policy to import duty-free Gold, Silver, and Platinum in India to manufacture the export items. In simple language, it means that, if you are an...
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