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With reference to the Export Promotion Capital Goods (EPCG) Scheme, consider the following statements:
1. The EPCG Scheme was launched to facilitate import and export of capital goods.
2. Under the scheme, manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty on them.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
With reference to the Export Promotion Capital Goods (EPCG) Scheme, co...
  • EPCG Scheme was launched in the 1990s to facilitate import of capital goods with the aim to enhance the production quality of goods and services, thereby, increasing India’s international manufacturing competitiveness. Hence, statement 1 is not correct.
  • Under the scheme, manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty on them. Hence, statement 2 is correct.
    • Second-hand capital goods may also be imported without any restriction on age under the EPCG Scheme.
  • The exemption from paying the obligation of customs duty on the import of capital goods is subject to fulfilment of an export value equivalent to 6 times of duty saved on the importation of such capital goods within 6 years from the date of issuance of the authorization.
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With reference to the Export Promotion Capital Goods (EPCG) Scheme, consider the following statements:1. The EPCG Scheme was launched to facilitate import and export of capital goods.2. Under the scheme, manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty on them.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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With reference to the Export Promotion Capital Goods (EPCG) Scheme, consider the following statements:1. The EPCG Scheme was launched to facilitate import and export of capital goods.2. Under the scheme, manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty on them.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Export Promotion Capital Goods (EPCG) Scheme, consider the following statements:1. The EPCG Scheme was launched to facilitate import and export of capital goods.2. Under the scheme, manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty on them.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Export Promotion Capital Goods (EPCG) Scheme, consider the following statements:1. The EPCG Scheme was launched to facilitate import and export of capital goods.2. Under the scheme, manufacturers can import capital goods for pre-production, production and post-production goods without attracting any customs duty on them.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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