Export obligation compliance: Bonding under EOU requires a Legal Undertaking and fulfilment within permitted extension periods. Redemption of an EPCG-issued Bank Guarantee on bonding under the EOU scheme is conditional on execution of a Legal Undertaking with the Development Commissioner and no accrued liability under blockwise export obligation criteria; Customs notifications permitting extensions must be considered in computing any shortfall, but the unit must complete the balance export obligation within the stipulated period inclusive of such extensions.
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.
Export obligation compliance: Bonding under EOU requires a Legal Undertaking and fulfilment within permitted extension periods.
Redemption of an EPCG-issued Bank Guarantee on bonding under the EOU scheme is conditional on execution of a Legal Undertaking with the Development Commissioner and no accrued liability under blockwise export obligation criteria; Customs notifications permitting extensions must be considered in computing any shortfall, but the unit must complete the balance export obligation within the stipulated period inclusive of such extensions.
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