New Delhi: The commerce ministry has put Bharti Airtel in denied entry list for non-fulfilment of export obligation under an export promotion scheme, sources said.
The Directorate General of Foreign Trade (DGFT), which is under the ministry, has put the company under this list which is commonly known as blacklist for non-fulfilment of export obligation in respect of certain EPCG authorisation issued to them, they said.
Following the move, the company will not be able to avail any export benefit or licence from the DGFT. Sources at Airtel said the company has not taken any such licence since April 2018, as there is no operational requirement.
In fact, the company has already applied for cancellation of all past licences that were due and is awaiting approval from authorities, they added. An e-mail sent to the company did not elicit any immediate response.
Under the Export Promotion Capital Goods (EPCG), an export promotion scheme, import of capital goods is allowed at zero customs duty. Capital goods imported at zero duty must fulfil EPCG export obligation equivalent to six times of duty saved, as per the scheme.
Comments
0 comment