Global Tax Guru: #ForeignTradePolicy2015-20 Now the #EPCG Authorization Holders shall be required to maintain records for a period of two years only.

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Friday, April 03, 2015

#ForeignTradePolicy2015-20 Now the #EPCG Authorization Holders shall be required to maintain records for a period of two years only.

At present, the EPCG Authorisation holders
are required to maintain records for 3 years
after redemption of Authorisations. Now the
EPCG Authorization Holders shall be required
to maintain records for a period of two years
only. Government’s endeavour is to gradually
phase out this requirement as the relevant
records such as Shipping Bills, e-BRC are
likely to be available in electronic mode
which can be archived and retrieved
whenever required.