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Customs - Highlights / Catch Notes

Home Highlights March 2019 Year 2019 This

Imposition of penalty - delay in fulfilling export obligation - ...

Customs

March 5, 2019

Imposition of penalty - delay in fulfilling export obligation - after the amendment, Licensing Authority may grant extension in fulfilling the export obligation by a period of four months against one or more consignment/sight on payment of penalty of 1% on the unfulfilled FOB value of export obligation - but the export obligations being fulfilled prior thereto - No penalty.

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