https://www.taxtmi.com/highlights?id=96324 Regularization of bona fide default under the Foreign Trade Policy provisions operates to revise and restate the export obligation (EO) in the Advance Authorizations, and the quantum of EO is a licensing authority determination; consequently fulfilment of EO as accepted by the licensing authority precludes Customs from treating conditions in Customs notifications as separately violated. An Export Obligation Discharge Certificate (EODC) is conclusive evidence of EO fulfilment for recovery purposes and, where bonds securing authorizations have been cancelled, demands under Customs Act provision for recovery cannot be enforced, negating duty, interest, penalty and confiscation. en-us Sat, 24 Jan 2026 13:26:55 +0530 Sat, 24 Jan 2026 13:26:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96324 Regularization of bona fide default under the Foreign Trade Policy provisions operates to revise and restate the export obligation (EO) in the Advance Authorizations, and the quantum of EO is a licensing authority determination; consequently fulfilment of EO as accepted by the licensing authority precludes Customs from treating conditions in Customs notifications as separately violated. An Export Obligation Discharge Certificate (EODC) is conclusive evidence of EO fulfilment for recovery purposes and, where bonds securing authorizations have been cancelled, demands under Customs Act provision for recovery cannot be enforced, negating duty, interest, penalty and confiscation. Highlights Customs Sat, 24 Jan 2026 13:26:55 +0530 https://www.taxtmi.com/highlights?id=96324