Export obligation regularisation permits one-time release of booked precious metals after penalty payment for delayed exports. One-time relief permits nominated agencies to consider replenishment claims where exports were completed but not claimed, and to regularise bonafide exporters who completed exports late on payment of a penalty equal to interest at 24% on the duty for the delayed period; thereafter release of Gold/Silver/Platinum may continue subject to normal terms. The measure, exercised under Paragraph 4.11 of the Exim Policy, is conditional and exporters are required to adhere strictly to prescribed time limits.
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 regularisation permits one-time release of booked precious metals after penalty payment for delayed exports.
One-time relief permits nominated agencies to consider replenishment claims where exports were completed but not claimed, and to regularise bonafide exporters who completed exports late on payment of a penalty equal to interest at 24% on the duty for the delayed period; thereafter release of Gold/Silver/Platinum may continue subject to normal terms. The measure, exercised under Paragraph 4.11 of the Exim Policy, is conditional and exporters are required to adhere strictly to prescribed time limits.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
