Duty credit scrip usage restricted: certain incentive scrips cannot pay customs duty for export obligation shortfalls under advance authorisations. Amendment provides that Duty Credit Scrip may be debited for payment of customs duties for EO defaults on authorizations under Chapters 4 and 5, but penalty and interest must be paid in cash. Scrips issued under SHIS, SFIS and AIIS are explicitly excluded from use for payment of customs duties in EO defaults for Chapter 4 authorizations. Duty credit scrips may still be used for composition fees, application fees under FTP and for value shortfalls under para 4.28(b) of HBP v1 2009-14.
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Provisions expressly mentioned in the judgment/order text.
Duty credit scrip usage restricted: certain incentive scrips cannot pay customs duty for export obligation shortfalls under advance authorisations.
Amendment provides that Duty Credit Scrip may be debited for payment of customs duties for EO defaults on authorizations under Chapters 4 and 5, but penalty and interest must be paid in cash. Scrips issued under SHIS, SFIS and AIIS are explicitly excluded from use for payment of customs duties in EO defaults for Chapter 4 authorizations. Duty credit scrips may still be used for composition fees, application fees under FTP and for value shortfalls under para 4.28(b) of HBP v1 2009-14.
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