wheather duty intrest is applicable for the eou unit which acived "In principle Exit order from Dc", Customs - Exim - SEZ

[syed Anwar Hussain]

Sir,

Wheather duty intrest is applicabe for the EOU unit which acived positiveNFE and got "in principle Exit Order"? IF 70% of Export obligation has been accived what will be penalty impossed? If No seperate bond officer placed for the unit Recovery charges will be recovered or not?

Posts / Replies

[R.S. Mangal]

In the present FTP, there is requirement of achieving NFEP and there is no concept of Export Obligation for EOU. If the EOU has achieved positive NFEP, no penal action can be initiated. The question of interest also does not arise.