Export obligation extension permitted, enabling condonation of minor shortfalls by Assistant Commissioner following Licensing Authority action. The amendment inserts a condition allowing that where the Licensing Authority grants an extension for fulfilment of export obligation or regularisation of a shortfall not exceeding five percent under the Handbook of Procedure provision, the period for fulfilment may be extended and the shortfall condoned by the Assistant Commissioner of Customs.
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Provisions expressly mentioned in the judgment/order text.
Export obligation extension permitted, enabling condonation of minor shortfalls by Assistant Commissioner following Licensing Authority action.
The amendment inserts a condition allowing that where the Licensing Authority grants an extension for fulfilment of export obligation or regularisation of a shortfall not exceeding five percent under the Handbook of Procedure provision, the period for fulfilment may be extended and the shortfall condoned by the Assistant Commissioner of Customs.
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