2023 (12) TMI 84

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....ined Zero Duty EPCG Authorization No.2130000128 dated 12.05.2011 was issued by the Asstt.Director General of Foreign Trade, under the Office of Jt. Director General of Foreign Trade, Patna along with the condition sheet (Annexure A), in which the terms and conditions of the said Authorization was incorporated. The said condition sheet states that: i) The Authorization will be operative as per the provisions of Foreign Trade Poicy (2009-2014) and Handbook of Procedures (Vol.I) 2009-2014 or any other law/provision for the time being in force read with concerned Customs Notification No.102/2009 dated 11.09.2009 as amended from time to time. ii) The authorization holder shall execute Bank Guarantee/LUT (As the case may be) to ....

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....s (2009-14), Volume-I, stipulates that where export obligation of any particular block of years is not fulfilled in terms of the above proportions, except in such cases where the export obligation prescribed for a particular block of the year is extended by the regional Authority subject to payment of composition fee of 2% on duty saved amount equal to unfulfilled portion of EO, such Authorization holder shall within 3 months from the expiry of the block of years, pay duties of customs (along with applicable interest as notified by DoR) of an amount equal to the proportion of the duty leviable on the goods which bears the same proportion as the unfulfilled portion of the export obligation bears to be total export obligation. 5. Without p....

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....e date of issue of authorization or within such extended period as the Deputy/Asstt. Commissioner of Customs may allow evidence to the satisfaction of the Deputy/Asstt. Commissioner of Customs showing the extent of export obligation fulfilled, and where the export obligation of any particular block is not fulfilled in terms of preceding condition, the importer shall within three months from the expiry of the said block pay duties of Customs equal to an amount bears the same proportion to the duties leviable on the goods, but for the exemption contained herein, which the unfulfilled portion of the export obligation bears to the total export obligation, together with interest rate at the rate of 15% per annum from the date of clearance of the....