Regularization of export obligation defaults allows payment of customs duty with interest capped at duty to close cases. Regularization permits authorization holders to close pending export obligation defaults by paying the applicable customs duty for the shortfall plus interest on that duty, with interest capped at the amount of duty. The option excludes cases where the export obligation period remains unexpired and ordinarily yields no refund; procedural steps and any corrections for calculation errors are to be issued separately.
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.
Regularization of export obligation defaults allows payment of customs duty with interest capped at duty to close cases.
Regularization permits authorization holders to close pending export obligation defaults by paying the applicable customs duty for the shortfall plus interest on that duty, with interest capped at the amount of duty. The option excludes cases where the export obligation period remains unexpired and ordinarily yields no refund; procedural steps and any corrections for calculation errors are to be issued separately.
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