Option to close cases of default in Export Obligation

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....August, 2013 Subject: Option to close cases of default in Export Obligation. In exercise of powers conferred under Paragraph 2.4 the Foreign Trade Policy, 2009-2014, the Director General of Foreign Trade hereby provides a procedure to close cases of default in Export Obligation under (a) Duty Exemption Scheme (para 4.28 of the HBP v1 and (b) EPCG Scheme (para 5.14 of HBP v1 RE-2012). a)&n....

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....50 and therefore for regularising this case the maximum amount to be paid by the authorisation holder would be Rs.300. However, for the same duty saved amount of   Rs. 150, if the default in EO were 30%, then the corresponding duty saved amount becomes Rs. 45 (30% of Rs. 150). Hence the interest component will be limited to Rs 45. Thus, duty + interest will not exceed Rs. 90 for this reg....