https://www.taxtmi.com/circulars?id=5837 Where DEPB or freely transferable incentive scrips under Chapter 3 are applied for without submission of Bank Realisation Certificates, the applicant must execute a Bank Guarantee or Legal Undertaking in prescribed Appendix formats; BRC must be produced within 12 months or RA will initiate recovery, and failure to pay within 60 days after that 12 month period attracts interest at 15% per annum from scrip issuance, with unutilised scrip credit deductible from the payable amount. BG/LUT validity is normally 24 months from LEO and may be revolving or scheme specific. en-us Mon, 30 Mar 2009 00:00:00 +0530 Tue, 31 Mar 2009 14:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5837 Where DEPB or freely transferable incentive scrips under Chapter 3 are applied for without submission of Bank Realisation Certificates, the applicant must execute a Bank Guarantee or Legal Undertaking in prescribed Appendix formats; BRC must be produced within 12 months or RA will initiate recovery, and failure to pay within 60 days after that 12 month period attracts interest at 15% per annum from scrip issuance, with unutilised scrip credit deductible from the payable amount. BG/LUT validity is normally 24 months from LEO and may be revolving or scheme specific. Circulars DGFT Mon, 30 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5837