Exit obligations for EOU units require settlement of duties and payment guarantees with prescribed legal undertakings. Exit requires payment of applicable customs, excise duties and compensation cess on all capital goods, inputs and finished goods in stock; disposal against duty free licences or export may be permitted. Penalties under the FT(DR) Act for non fulfilment must be paid; pending appeals require a stay and a bank guarantee for adjudicated penalties unless exempted. If LOA/LOP terms are breached and penal proceedings are pending, a legal undertaking in the ANNEXURE form securing payment of possible penalties must be executed with the Development Commissioner. Units remaining in DTA must comply with applicable laws and must obtain final exit within six months unless extended.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exit obligations for EOU units require settlement of duties and payment guarantees with prescribed legal undertakings.
Exit requires payment of applicable customs, excise duties and compensation cess on all capital goods, inputs and finished goods in stock; disposal against duty free licences or export may be permitted. Penalties under the FT(DR) Act for non fulfilment must be paid; pending appeals require a stay and a bank guarantee for adjudicated penalties unless exempted. If LOA/LOP terms are breached and penal proceedings are pending, a legal undertaking in the ANNEXURE form securing payment of possible penalties must be executed with the Development Commissioner. Units remaining in DTA must comply with applicable laws and must obtain final exit within six months unless extended.
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