Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
RoDTEP and RoSCTL benefits are clarified to follow the same treatment as duty drawback where export realisation is short: remission or rebate may be allowed on FOB value without deducting agency commission and foreign bank charges if those deductions stay within the overall 12.5% FOB limit; if they exceed that limit, the excess must be deducted from FOB value for benefit computation. Compensation received from ECGC for short realisation of export proceeds may be treated as receipt of sale proceeds, so remission or rebate under RoDTEP and RoSCTL need not be recovered, provided RBI writes off realisation on merits and the exporter produces the required certificate from the concerned Foreign Mission of India.
RoDTEP and RoSCTL benefits are clarified to follow the same treatment as duty drawback where export realisation is short: remission or rebate may be allowed on FOB value without deducting agency commission and foreign bank charges if those deductions stay within the overall 12.5% FOB limit; if they exceed that limit, the excess must be deducted from FOB value for benefit computation. Compensation received from ECGC for short realisation of export proceeds may be treated as receipt of sale proceeds, so remission or rebate under RoDTEP and RoSCTL need not be recovered, provided RBI writes off realisation on merits and the exporter produces the required certificate from the concerned Foreign Mission of India.
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