Time-bound disposal of trade applications requires expedited processing and counters for completeness, with specified late cut penalties for delayed filings. An IEC holder must update change in name, address or constitution within ninety days or face condonation with penalty. Authorisations must state CIF/FOB values in rupees and freely convertible currency; obligations are discharged in freely convertible currency except where denominated otherwise. Late applications may be considered subject to graduated late cuts; supplementary claims incur a specified cut. Counter Assistance provides same day deficiency checks and tokenised receipt; complete applications are processed under a time bound disposal regime. Date of shipment rules by transport mode and DGFT's general review powers are specified.
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.
Time-bound disposal of trade applications requires expedited processing and counters for completeness, with specified late cut penalties for delayed filings.
An IEC holder must update change in name, address or constitution within ninety days or face condonation with penalty. Authorisations must state CIF/FOB values in rupees and freely convertible currency; obligations are discharged in freely convertible currency except where denominated otherwise. Late applications may be considered subject to graduated late cuts; supplementary claims incur a specified cut. Counter Assistance provides same day deficiency checks and tokenised receipt; complete applications are processed under a time bound disposal regime. Date of shipment rules by transport mode and DGFT's general review powers are specified.
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