Penalty for export shortfall allows removal from defaulter list upon verification and prescribed payment by exporters. Names of exporters are removed from the defaulter list after documentary re verification and payment of the prescribed penalty to the concerned Regional Authorities; 48 firms in Annexure 1 were de listed. Exporters whose shipments exceed the tolerance of plus or minus five percent may obtain removal by paying a penalty comprising a fixed component plus a percentage of the shortfall beyond the five percent allowance, following re verification with the issuing RC authority.
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.
Penalty for export shortfall allows removal from defaulter list upon verification and prescribed payment by exporters.
Names of exporters are removed from the defaulter list after documentary re verification and payment of the prescribed penalty to the concerned Regional Authorities; 48 firms in Annexure 1 were de listed. Exporters whose shipments exceed the tolerance of plus or minus five percent may obtain removal by paying a penalty comprising a fixed component plus a percentage of the shortfall beyond the five percent allowance, following re verification with the issuing RC authority.
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