Interest addition on EPCG scheme imports enforced; documentation standard shifted to customs satisfaction, affecting exemption compliance and recovery procedures. The amendment omits condition (2) of Notification No.111/95-Cus, replaces the requirement for 'a certificate from the Licensing Authority' in condition (4) with 'evidence to the satisfaction of the Assistant Commissioner of Customs,' and appends an obligation to pay interest from the date of clearance of the goods to conditions (4), (5) and (6), thereby altering documentary validation and imposing interest-linked recovery for non-compliance with EPCG exemption conditions.
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Provisions expressly mentioned in the judgment/order text.
Interest addition on EPCG scheme imports enforced; documentation standard shifted to customs satisfaction, affecting exemption compliance and recovery procedures.
The amendment omits condition (2) of Notification No.111/95-Cus, replaces the requirement for "a certificate from the Licensing Authority" in condition (4) with "evidence to the satisfaction of the Assistant Commissioner of Customs," and appends an obligation to pay interest from the date of clearance of the goods to conditions (4), (5) and (6), thereby altering documentary validation and imposing interest-linked recovery for non-compliance with EPCG exemption conditions.
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