https://www.taxtmi.com/circulars?id=1193 Where iron and steel items imported under advance licences at prices below DGFT-declared floor prices are diverted into the domestic market before fulfilling export obligations, customs must recover duty at the declared floor prices and initiate penal proceedings under Section 111(O) of the Customs Act. Normal imports without diversion should be debited to the advance licence on the actual import price if otherwise in order. en-us Fri, 04 Feb 2000 00:00:00 +0530 Mon, 28 Jul 2025 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1193 Where iron and steel items imported under advance licences at prices below DGFT-declared floor prices are diverted into the domestic market before fulfilling export obligations, customs must recover duty at the declared floor prices and initiate penal proceedings under Section 111(O) of the Customs Act. Normal imports without diversion should be debited to the advance licence on the actual import price if otherwise in order. Circulars Customs Fri, 04 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1193