CUSTOMS NOTIFICATION No. 58/2001 Dated 30/05/2001

Extention of EO Period for EPCG Licences

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 29/97- Customs dated 1st April, 1997, namely:-

In the said notification, in paragraph 2, in condition (7), after the second proviso, the following proviso shall be inserted, namely:-

“Provided also that where the importer fulfils 60% or more of the export obligation within the period of 8 years, the licensing authority may grant extension of the period of export obligation by two years (including the period of one year specified in the preceding proviso)”.

Sd/-
N.K. Sinha
Under Secretary to the Government of India

F.No. 605/53/2001-DBK

Note: Notification No.29/97-Cus dt.1st April 1997 was last amended by Notification No. 52/2000-Cus, dt 28th April, 2000.

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