https://www.taxtmi.com/circulars?id=11433 Clarification requires registration of cotton and cotton yarn export contracts with DGFT and prescribes that RCs must be revalidated or may be cancelled under specified conditions; a -5% weight tolerance applies and surrenders or shortfalls beyond that tolerance are regularized by an administrative penalty plus a percentage of FOB shortfall. Changes to buyer details and amendments to quantity are permitted if exports complete within RC validity; one-time short revalidation is allowed. Fulfillment is only recognized when customs handover and Let Export Order are effected within RC validity; inconsistent consignee arrangements may attract penalties. en-us Wed, 28 Dec 2011 00:00:00 +0530 Tue, 13 Mar 2012 09:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11433 Clarification requires registration of cotton and cotton yarn export contracts with DGFT and prescribes that RCs must be revalidated or may be cancelled under specified conditions; a -5% weight tolerance applies and surrenders or shortfalls beyond that tolerance are regularized by an administrative penalty plus a percentage of FOB shortfall. Changes to buyer details and amendments to quantity are permitted if exports complete within RC validity; one-time short revalidation is allowed. Fulfillment is only recognized when customs handover and Let Export Order are effected within RC validity; inconsistent consignee arrangements may attract penalties. Circulars DGFT Wed, 28 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11433