https://www.taxtmi.com/news?id=3173 Where misuse of export incentive schemes is detected - including forged documents, mis declaration, diversion to the domestic market, and incorrect invoicing - penal measures are imposed under the Foreign Trade (Development & Regulation) Act and rules, with enforcement by revenue intelligence and customs that may suspend or cancel the IEC and impose fiscal penalties with penal interest alongside action under the Customs Act. en-us Mon, 30 Apr 2012 17:20:44 +0530 Mon, 30 Apr 2012 17:20:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3173 Where misuse of export incentive schemes is detected - including forged documents, mis declaration, diversion to the domestic market, and incorrect invoicing - penal measures are imposed under the Foreign Trade (Development & Regulation) Act and rules, with enforcement by revenue intelligence and customs that may suspend or cancel the IEC and impose fiscal penalties with penal interest alongside action under the Customs Act. News - Mon, 30 Apr 2012 17:20:44 +0530 https://www.taxtmi.com/news?id=3173