Positive net foreign exchange obligation triggers adjudicatory action under FT(D&R) Act after cumulative assessment period. Failure to achieve positive NFE after the third year leads to a show cause notice under the FT (D&R) Act, but penal proceedings are initiated by the ... Summary
Foreign Trade (Development And Regulation) Act 1992
Positive net foreign exchange obligation triggers adjudicatory action under FT(D&R) Act after cumulative assessment period.
Failure to achieve positive NFE after the third year leads to a show cause notice under the FT (D&R) Act, but penal proceedings are initiated by the Development Commissioner only after completion of the cumulative multi year assessment period when net NFE is computed.
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