An ANF 5B form is the Application Form for Redemption of EPCG (Export Promotion Capital Goods) Authorization / Issuance of Post Export EPCG Duty Credit Scrip.
In simpler terms, this form is used for:
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EPCG Authorization Redemption: Companies that have been granted an EPCG license (which allows them to import capital goods at zero or concessional duty for export production) use this form to prove they have fulfilled their export obligations. Once the obligations are met, they can apply to redeem (close out) the EPCG license.
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Issuance of Post Export EPCG Duty Credit Scrip: Under certain circumstances (specifically in the post-export EPCG scheme), instead of upfront duty exemptions, exporters can first pay the duties on imported capital goods and then apply for a duty credit scrip. This scrip can be used to pay other import duties or excise duties. The ANF 5B form is used to apply for this scrip.
Therefore, the ANF 5B form is a crucial document for businesses participating in the EPCG scheme to either close their authorization after fulfilling export obligations or claim duty credit scrips in the post-export scheme.
