Verification Mechanism and monitoring of export obligation under duty exemption/reward Schemes – reg.

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....ation/Duty Free Import Authorization (DFIA)/Export Promotion Captial Goods (EPCG) schemes. 2.  The matter has been examined by the Board in the light of the conditions specified in the notifications regarding monitoring of export obligation in respect of Advance Authorization/DFIA/EPCG schemes.  Board has also considered the reports received from the field formations, which indicated discrepancies found having revenue implications during the verification of the duty credit scrips, issued under Chapter 3 schemes of FTP.  Accordingly, it has been decided to put in place the following procedures:- a) In case of EPCG scheme, the Jurisdictional Customs Authorities at the Port of Import shall ensure that the installation cert....

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....ction to safegaurd customs revenue should be initiated in case the authorization holder does not submit the Export Obligation Discharge Certificate within the time period stipulated in the relevant Customs notifications.  e) As regards the duty credit scrips issued under Chapter 3 of FTP, the verification of genuineness of scrips in terms of Para 3.11.3 of the HBP v.1 shall be done before allowing registration of such scrips. Further, the Commissioner may cause random verification of the shpping bills based on which the said duty credit scrip has been issued to ascertain the genuiness of such shipping bills. A quarterly report on the outcome of the said verification may be forwarded to the Board, which should include inter alia the ....