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Don't let ONGC Petro additions Ltd. turn into a failure


Selecting the right combination of schemes

Sir,
I read your insightful article. If the authorities have agreed in-principle to convert its status from SEZ unit to one in DTA, the option to convert to EPCG may again impose newer obligation to export. In this scenario, i am inclined to suggest MOOWR scheme (right away) and get freedom from obligations to export output. A MOOWR unit stands to loose AIR (of drawback) if the Company has been enjoying on exports. The option to exercise EPCG on certain capital installations, if finally by the DGFT, can still be exercised anticipating the extent of foreseeable exports. MOOWR scheme works mostly under the Customs procedures and can co-run EPCG, Advance authorization (for inputs) etc. from same premises.

-rajesh ingale

Raveendra Pethe 03/09/2023

 

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