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Customs - Highlights / Catch Notes

Home Highlights March 2020 Year 2020 This

Advance Licence scheme - Imposition of penalty - suspension of ...

Customs

March 9, 2020

Advance Licence scheme - Imposition of penalty - suspension of the IEC - The petitioner has not availed any benefit under the Advance Licence Scheme. Once the petitioner fulfills the export obligations of ₹ 30 crorers on the cost of ₹ 2.10 crores, he has incurred for importing fuel. Though the petitioner availed the benefit under the Advance Licence Scheme to import fuel as is clear in the aforesaid amended provision that has to be excluded from the said scheme. - HC

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