Net Foreign Exchange Earning requirement governs EOU duty liability and triggers Customs recovery when NFE is negative. Monitoring of export performance for EOUs vests with the Development Commissioner as licensing authority and head of the Unit Approval Committee, with ... Summary
Net Foreign Exchange Earning requirement governs EOU duty liability and triggers Customs recovery when NFE is negative.
Monitoring of export performance for EOUs vests with the Development Commissioner as licensing authority and head of the Unit Approval Committee, with STP/EHTP licensing by the designated officer. The metric Net Foreign Exchange Earning (NFE) (from 2003-04) determines duty liability proportionate to any shortfall, calculated cumulatively over five-year blocks; failure to be NFE positive requires the Development Commissioner to inform Customs for recovery. The Development Commissioner must coordinate foreign exchange realization and remittance monitoring with the Reserve Bank of India.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
