Licensing Authority can extend export obligations by four months with 1% penalty on unfulfilled FOB value. No penalty if met prior.

Licensing Authority can extend export obligations by four months with 1% penalty on unfulfilled FOB value. No penalty if met prior. https://www.taxtmi.com/highlights?id=44930 Imposition of penalty - delay in fulfilling export obligation - after the amendment, Licensing Authority may grant extension in fulfilling the export obligation by a period of four months against one or more consignment/sight on payment of penalty of 1% on the unfulfilled FOB value of export obligation - but the export obligations being fulfilled prior thereto - No penalty. en-us Tue, 05 Mar 2019 10:32:33 +0530 Tue, 05 Mar 2019 10:32:33 +0530 TaxTMI RSS Generator Licensing Authority can extend export obligations by four months with 1% penalty on unfulfilled FOB value. No penalty if met prior. https://www.taxtmi.com/highlights?id=44930 Imposition of penalty - delay in fulfilling export obligation - after the amendment, Licensing Authority may grant extension in fulfilling the export obligation by a period of four months against one or more consignment/sight on payment of penalty of 1% on the unfulfilled FOB value of export obligation - but the export obligations being fulfilled prior thereto - No penalty. Highlights Customs Tue, 05 Mar 2019 10:32:33 +0530 https://www.taxtmi.com/highlights?id=44930