Recovery of duty forgone and penalties apply when EOUs fail NFE or divert duty free goods. Recovery of duty forgone with interest arises where EOUs fail positive NFE requirements or where imported/indigenously procured goods are not received, ... Summary
Recovery of duty forgone and penalties apply when EOUs fail NFE or divert duty free goods.
Recovery of duty forgone with interest arises where EOUs fail positive NFE requirements or where imported/indigenously procured goods are not received, lost in transit, not accounted for, sold unauthorizedly in DTA, clandestinely removed, or not utilized within prescribed time; duty is also recoverable when goods sent for job work/display/testing are not returned. Separate penal action applies for fraudulent diversion or clandestine removal, permitting seizure, confiscation, penalties and prosecution.
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