5.10
- Document type
- Procedure
- Dated
Automatic Reduction /Enhancement upto 10% of CIF value and Prorata Reduction / Enhancement in Export Obligation
Automatic Reduction /Enhancement upto 10% of CIF value and Prorata Reduction / Enhancement in Export Obligation
5.10
If authorization issued has actually been utilized for import of a value in excess upto 10% of CIF value / duty saved amount of authorization, authorization shall be deemed to have been enhanced by that proportion. Customs shall automatically allow clearance of goods in excess upto 10% of authorization value /duty saved amount without endorsement by concerned RA.
In such cases, authorization holder shall furnish additional fee to cover excess imports effected in terms of CIF value / duty saved amount to RA concerned within one month of excess imports taking place. Export obligation shall automatically stand enhanced proportionately.
5.10
If authorization issued has actually been utilized for import of a value in excess upto 10% of CIF value / duty saved amount of authorization, authorization shall be deemed to have been enhanced by that proportion. Customs shall automatically allow clearance of goods in excess upto 10% of authorization value /duty saved amount without endorsement by concerned RA.
In such cases, authorization holder shall furnish additional fee to cover excess imports effected in terms of CIF value / duty saved amount to RA concerned within one month of excess imports taking place. Export obligation shall automatically stand enhanced proportionately.