Suo-moto payment of customs duty allows exporters to deposit or debit self-calculated duty pending RA regularisation. Authorisation holders with an acknowledged RA regularisation application may make suo-moto payment of self-calculated duty and interest for bona fide default under Advance/EPCG by cash challan or debit of eligible Chapter 3 duty credit scrips (limited to permitted imports); interest must be paid in cash and challans submitted to Customs for record update. Upon the RA's excess import letter, Customs will confirm actual duty and interest, adjust for prior payments or debits, direct payment of any balance, endorse paid challans, and, after the RA's redemption letter, reconcile and initiate release of the Bond/Bank Guarantee.
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.
Suo-moto payment of customs duty allows exporters to deposit or debit self-calculated duty pending RA regularisation.
Authorisation holders with an acknowledged RA regularisation application may make suo-moto payment of self-calculated duty and interest for bona fide default under Advance/EPCG by cash challan or debit of eligible Chapter 3 duty credit scrips (limited to permitted imports); interest must be paid in cash and challans submitted to Customs for record update. Upon the RA's excess import letter, Customs will confirm actual duty and interest, adjust for prior payments or debits, direct payment of any balance, endorse paid challans, and, after the RA's redemption letter, reconcile and initiate release of the Bond/Bank Guarantee.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
