https://www.taxtmi.com/caselaws?id=203291 Under the Foreign Trade framework, Rule 8 of the Foreign Trade (Regulation) Rules, 1993 allows amendment of a licence, and a bona fide retrospective conversion approved by the EPCG Committee can govern prior imports. Once the licence was converted from zero-duty EPCG to 10% duty EPCG, the earlier import threshold and the corresponding condition in the exemption notification ceased to apply. Customs authorities, having participated in the committee process, could not disregard that conversion or insist on duty, interest and penalty for alleged breach of the original licence condition. en-us Wed, 16 Mar 2011 00:00:00 +0530 Wed, 17 Aug 2011 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203291 Under the Foreign Trade framework, Rule 8 of the Foreign Trade (Regulation) Rules, 1993 allows amendment of a licence, and a bona fide retrospective conversion approved by the EPCG Committee can govern prior imports. Once the licence was converted from zero-duty EPCG to 10% duty EPCG, the earlier import threshold and the corresponding condition in the exemption notification ceased to apply. Customs authorities, having participated in the committee process, could not disregard that conversion or insist on duty, interest and penalty for alleged breach of the original licence condition. Case-Laws Customs Wed, 16 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203291