No. CEPC/SEC/P&P/2013/ Dated: 26th December, 2013
To : All Members of CEPC
Sub. :Option to close cases of default in Export obligation (EO)-Notification No.46/2013-Customs dated 26/09/2013.
The Commissioner of Customs (Export), JNCH, Nhava Sheva, Maharashtra vide their letter dated 12.12.2013 has sent us a copy of Public Notice No. 40/2013 dated 11.12.2013 informing that Government has issued Notification No.46/2013-Customs dated 26/09/2913 to amend 36 Custom notifications pertaining to Advance License/DEEC/ Advance Authorization/ DFIA/ EPCG relating to the Policy periods from 1992-1997 to 2004-2009. The above notification has implemented the Public Notice No.22 (RE-2013)/2009-2014 dated 12/08/2013 notified by DGFT that has provided a procedure, under category of regularization of bona fide defaults, in which all pending cases of the default in meeting Export Obligation may be regularized by the authorization holder on payment of applicable customs duty, corresponding to the shortfall in export obligation, along with interest on such customs duty, but the interest to be so paid, under this option, shall not exceed the amount of customs duty payable for the default. The authorization holder choosing to avail this procedure must complete the process of payment on or before 31/03/2014.
We would request the eligible Members to avail the benefit of the above notification. A copy of the above public Notice dated 12.12.2013 alongwith Notification No. 46/2013 dated 26 Sept., 2013 and Public Notice No. 22(RE-2013)/2009-2014 dated 12.08.2013 are enclosed for kind perusal of the Members.
SHIV KUMAR GUPTA