Redemption of export obligation defaults allowed by paying customs duty plus limited interest to close cases. Authorization holders may regularize pending and adjudicated defaults in export obligation by paying applicable customs duty corresponding to the shortfall plus interest, with the interest not to exceed the customs duty payable; the facility covers duty exemption and EPCG scheme defaults and applies also to cases adjudicated or pending appeal, as a time limited mechanism for closure of pending cases.
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.
Redemption of export obligation defaults allowed by paying customs duty plus limited interest to close cases.
Authorization holders may regularize pending and adjudicated defaults in export obligation by paying applicable customs duty corresponding to the shortfall plus interest, with the interest not to exceed the customs duty payable; the facility covers duty exemption and EPCG scheme defaults and applies also to cases adjudicated or pending appeal, as a time limited mechanism for closure of pending cases.
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