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of <h1>DGFT Circular: Pay 1% of SIL Value Instead of Surrendering for Audit Settlement via Central Bank Treasury Receipt.</h1> The Directorate General of Foreign Trade (DGFT) has issued a circular addressing the settlement of audit objections related to the surrender of Special Import Licences (SIL), which are now obsolete. The Policy Review Committee decided that instead of surrendering SILs, entities should pay an amount equivalent to 1% of the SIL's value. This payment is to be made through a Treasury Receipt at an authorized Central Bank of India branch, under the specified account head for foreign trade and export promotion. Regional DGFT offices are instructed to resolve relevant audit objections in accordance with this decision.
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