REDEMPTION/EODC FOR ADVANCE AUTHORISATION

[DINESH DAVE]

I have made less export in terms of qty. but made excess export in terms of FOB. So i want to know that shall i have to pay custom duty on less export qty or FOB value will consider for EODC/REDEMPTION.
 

[YAGAY andSUN]

Dear Dinesh,

Please refer para 4.28 of the HOB Vol.1 read with FTP 2009-2014 in this regard.

Thanks

Team YAGAY & SUN

AI Summary

Redemption for advance authorisation: apply Handbook and Foreign Trade Policy rules to reconcile export value and quantity. Whether redemption/EODC under an Advance Authorisation is assessed by quantity shortfall or FOB value when exports show lower quantity but higher FOB; guidance directs consulting Handbook of Procedures para 4.28 (HOB Vol.1) read with the Foreign Trade Policy 2009-2014 for applicable treatment.