https://www.taxtmi.com/news?id=3307 Status Holders, Special Bonus Benefit and Special Focus Market Schemes grant duty credit incentives tied to export performance and destination; the Special Focus Market benefit is additional to existing focus-market credits. A Monitoring Committee supervises financial outgo and scheme expansion. Identified misuse risks include forged documents, mis-declaration, diversion to the domestic market and invoice manipulation. Where irregularities are found via monitoring or intelligence, penal measures are taken under the Foreign Trade (Development & Regulation) Act and rules, including suspension or cancellation of IEC, fiscal penalties with penal interest, and action under customs law. en-us Mon, 14 May 2012 18:50:37 +0530 Mon, 14 May 2012 18:50:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3307 Status Holders, Special Bonus Benefit and Special Focus Market Schemes grant duty credit incentives tied to export performance and destination; the Special Focus Market benefit is additional to existing focus-market credits. A Monitoring Committee supervises financial outgo and scheme expansion. Identified misuse risks include forged documents, mis-declaration, diversion to the domestic market and invoice manipulation. Where irregularities are found via monitoring or intelligence, penal measures are taken under the Foreign Trade (Development & Regulation) Act and rules, including suspension or cancellation of IEC, fiscal penalties with penal interest, and action under customs law. News - Mon, 14 May 2012 18:50:37 +0530 https://www.taxtmi.com/news?id=3307