Please be informed that EPCG scheme, popularly known for duty free import of machineries is to be withdrawn from the Foreign Trade Policy from the year 2018. Hence, please plan immediately about our import requirement of machineries and purchase before June, 2017 before implementation of GST. After implementation of GST., we may get exemption upto 10% of basic Customs duty, subject to some terms and conditions as per the circular to be issued at that time. This 10%duty exemption is also expected to be available upto December 2017, and the EPCG scheme will be abolished from the year 2018.
Also, according to the recent implementation of FTA (Free Trade Agreement) there are chances to cut all the incentives for the exports from next year, 2018, especially MEIS (formerly FPS duty scrip incentive)
Source: Anil Kumar G