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Suo-moto payment of customs duty lets exporters pre-pay Advance/EPCG defaults pending regularisation to avoid interest. Facility for suo-moto payment allows an authorization holder with bona fide default in export obligation under Advance or EPCG to deposit self-calculated duty and interest in cash or present eligible duty credit scrip for debit at the registering port; Customs updates records and endorses scrips. After the RA's detailed calculation and issuance of an excess import letter, Customs confirms actual duty and interest, indicates any balance payable which the AH must clear, and on RA's redemption letter Customs reconciles and initiates release of the Bond/Bank Guarantee.
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Provisions expressly mentioned in the judgment/order text.
Suo-moto payment of customs duty lets exporters pre-pay Advance/EPCG defaults pending regularisation to avoid interest.
Facility for suo-moto payment allows an authorization holder with bona fide default in export obligation under Advance or EPCG to deposit self-calculated duty and interest in cash or present eligible duty credit scrip for debit at the registering port; Customs updates records and endorses scrips. After the RA's detailed calculation and issuance of an excess import letter, Customs confirms actual duty and interest, indicates any balance payable which the AH must clear, and on RA's redemption letter Customs reconciles and initiates release of the Bond/Bank Guarantee.
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