Export obligation default interest cap: importer's interest liability limited to duty where default is regularised under DGFT option. Amendments insert a paragraph into multiple customs miscellaneous exemption notifications providing that where an importer regularises a default in export obligation by paying the duty in accordance with DGFT Public Notice No. 22 (RE-2013)/2009-2014, the amount of interest payable by the importer shall not exceed the amount of the duty paid. The insertions are placed at the specified locations within each listed notification to align customs exemption provisions with the DGFT mechanism for closing export obligation defaults.
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Export obligation default interest cap: importer's interest liability limited to duty where default is regularised under DGFT option.
Amendments insert a paragraph into multiple customs miscellaneous exemption notifications providing that where an importer regularises a default in export obligation by paying the duty in accordance with DGFT Public Notice No. 22 (RE-2013)/2009-2014, the amount of interest payable by the importer shall not exceed the amount of the duty paid. The insertions are placed at the specified locations within each listed notification to align customs exemption provisions with the DGFT mechanism for closing export obligation defaults.
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