Customs valuation and import permissibility conflict resolved: accepted enhancement of transaction value removes liability for confiscation and penalt...
Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
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Prescribes handling of show cause notices for non-realisation or short realisation of export proceeds where scrutiny of DGFT e-BRCs indicates a shortfall against FOB value. It reiterates CBIC guidance that deductions for agency commission and foreign bank charges may be regularised on merits within an overall limit of 12.5% of FOB, subject to supporting documents such as export invoices and bank confirmation of foreign bank charges. Exporters are directed to submit proof of realisation and, where shortfall is claimed, the requisite documentary justification along with the reply to the notice. Where shortfall persists and supporting proof is not furnished with the reply, adjudication must include a personal hearing opportunity before decision.
Prescribes handling of show cause notices for non-realisation or short realisation of export proceeds where scrutiny of DGFT e-BRCs indicates a shortfall against FOB value. It reiterates CBIC guidance that deductions for agency commission and foreign bank charges may be regularised on merits within an overall limit of 12.5% of FOB, subject to supporting documents such as export invoices and bank confirmation of foreign bank charges. Exporters are directed to submit proof of realisation and, where shortfall is claimed, the requisite documentary justification along with the reply to the notice. Where shortfall persists and supporting proof is not furnished with the reply, adjudication must include a personal hearing opportunity before decision.
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