Corrigendum to Public Notice No.16 dated 4th June, 2015 in respect of amendments in Paragraphs 4.38 (viii) (b)&(c) and paragraph 4.42(c) of Hand Book of Procedure by DFGT
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Composition fee on delayed export obligations required for extension of export authorisations; conditions govern clubbing and second extension. Corrections limit clubbing of authorisations to exports made up to thirty months from the earliest authorisation and prescribe a composition fee regime for exports after the initial obligation period, including a monthly charge for later months. The same rules apply when eighteen month and thirty six month authorisations are clubbed. For export obligation extensions, a second six month extension requires at least fifty percent fulfilment of the obligation on a pro rata basis, payment of a monthly composition fee on unfulfilled FOB value, a CA/CE certificate confirming available inputs, and no extensions beyond twelve months past the EO expiry.
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.
Composition fee on delayed export obligations required for extension of export authorisations; conditions govern clubbing and second extension.
Corrections limit clubbing of authorisations to exports made up to thirty months from the earliest authorisation and prescribe a composition fee regime for exports after the initial obligation period, including a monthly charge for later months. The same rules apply when eighteen month and thirty six month authorisations are clubbed. For export obligation extensions, a second six month extension requires at least fifty percent fulfilment of the obligation on a pro rata basis, payment of a monthly composition fee on unfulfilled FOB value, a CA/CE certificate confirming available inputs, and no extensions beyond twelve months past the EO expiry.
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