Value addition compliance: exporters must deposit equivalent sums when prescribed value addition is not achieved to meet policy requirements. Amendments modify Handbook provisions to impose a compliance mechanism for value addition shortfalls-allowing no penalty if prescribed or actual positive value addition is met, otherwise requiring an equivalent TR deposit into the designated customs revenue head so deposit plus FOB receipts meet minimum value addition over CIF. Customs duty with interest recovered for regularisation or BG/LUT enforcement must be deposited by the licencee into the customs revenue head within thirty days of demand with documentary proof. The changes also expand approvals, SEZ/EOU operational rules, monitoring and NFEP/NFE calculation, Board of Approval powers, CST reimbursement procedures, sectoral conditions and reporting formats.
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Value addition compliance: exporters must deposit equivalent sums when prescribed value addition is not achieved to meet policy requirements.
Amendments modify Handbook provisions to impose a compliance mechanism for value addition shortfalls-allowing no penalty if prescribed or actual positive value addition is met, otherwise requiring an equivalent TR deposit into the designated customs revenue head so deposit plus FOB receipts meet minimum value addition over CIF. Customs duty with interest recovered for regularisation or BG/LUT enforcement must be deposited by the licencee into the customs revenue head within thirty days of demand with documentary proof. The changes also expand approvals, SEZ/EOU operational rules, monitoring and NFEP/NFE calculation, Board of Approval powers, CST reimbursement procedures, sectoral conditions and reporting formats.
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