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Saturday, August 8, 1998

EPCG cover for hotels allowed

 
MUMBAI, Aug 7: The Centre has extended the zero-duty export promotion capital goods (EPCG) scheme to hotels. In a recent notification, the revenue department has stated that the scheme will be extended to the plant, machinery, equipment and accessories required for rendering services in the hotel industry.

The industry has been demanding extension of the zero-duty scheme so that new hotels can be constructed at reduced cost and to keep tariffs low and internationally competitive.

Besides the capital goods, the industry has been making a case for inclusion of building materials like marble, granite, tiles, carpets, furniture and fabrics and motor vehicles for guest use to be imported under the EPCG scheme.

Meanwhile, according to an official release, the department has also notified that in order to provide access to duty-free inputs to the garment sector so as to make it more internationally competitive, those export oriented units which have completed their export obligation and want to opt fordebonding under the zero-duty EPCG scheme will be permitted to do so. So far, this facility was available only to 10 per cent duty EPCG window.

The department has also provided duty-free import of fasteners and poly-wadding material to be imported by registered manufacturers-exporters of garments to the extent of 2 per cent of FOB value of garments exported during the preceding financial year.

This facility is permitted to only those manufacturers-exporters who are registered with the Apparel Export Promotion Council in the ministry of textile and who in turn will be responsible for monitoring the duty-free import of the materials and their usage, the release adds.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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