Capital & EPCG Machinery Goods
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Capital goods refer to plants, machinery, and equipment/apparatus employed to produce goods and services. EPCG stands for Export Promotion Capital Goods, a scheme that enables the import of capital goods for production at zero customs duty.
the import of capital goods for production at zero customs duty.
Examples of Capital Goods:
- Machinery, equipment/apparatus, or accessories used in production
- Packaging machinery & equipment
- Refrigeration equipment
- Power generating sets
- Machine tools
- Equipment for testing, research, and development
- Equipment for quality and pollution control
- Spares, jigs, fixtures, molds, dies, and refractories
- Catalysts for initial and subsequent charges
- Computer systems & software
Services Using Capital Goods:
- Manufacturing
- Mining
- Agriculture
- Aquaculture
- Animal husbandry
A Brief Overview of the EPCG Scheme:
- The EPCG Scheme was introduced in 1992 to help India's manufacturing competitiveness.
- The scheme entails importing capital goods for pre-production and post-production procedures.
- The scheme exempts IGST and Compensation Cess on capital goods/items imported for physical/in-person exports.
- The scheme encompasses manufacturer exporters, merchant exporters, and service providers.
- An IEC is needed to apply for the desired scheme.
- The EPCG scheme requires exporters to fulfill an export obligation within a prescribed timeline or number of years.
Logimetrics Logistix LLP LML7 adeptly performs the functions of handling, managing, and executing the procedures, documentation, and legal formalities associated with Capital & EPCG Machinery goods for ensuring seamless, hassle-free transportation of goods in compliance with all the necessary custom clearance rules and regulations, beneficial for all existing and potential clients and customers alike.
No wonder LML7 has bagged the reputation of being a ‘One-Stop’ logistics solution provider to fall back on heavily when in need and necessity! With a team of skilled, experienced professionals to our credit and at your disposal, we ensure the logistics solutions and services we render speak volumes about our unwavering dedication and relentless pursuit of hard work and commitment to excellence. Herein lies our key ‘Mantra’ to Success & Holding Ground in Good Stead!
However, the following Benefits/Advantages of EPCG Scheme offered by LML7, include:
- The EPCG scheme aids in improving the competitive streaks amongst India’s manufacturing sector/unit.
- It allows technological advancement or upgrades in the indigenous industry.
- It enables the import of second-hand capital goods without any age restriction whatsoever.
- Exporters of Green Technology Products obtain a 75% reduction in Export Obligation.
How to Apply for the EPCG Scheme as per LML7’s guidelines:
- Require an IEC.
- Visit or enquire about the official website of DGFT.
- Apply for the EPCG scheme.
- Fill in the required details/trivia in the application form.
- Upload the necessary documents.
- Make the required payment if asked.
- Submit the application.
