5.8.3
- Document type
- Procedure
- Dated
Condition for Fulfilment of Export Obligation
Condition for Fulfilment of Export Obligation
5.8.3
Where export obligation of any particular block of years is not fulfilled in terms of the above proportions, except in such cases where the export obligation prescribed for a particular block of years is extended by the Regional Authority for authorizations upto Rs.50 crores, and by DGFT for other cases, subject to payment of composition fee of 2% on duty saved amount equal to unfulfilled portion of EO, such Authorisation holder shall, within 3 months from the expiry of the block of years, pay duties of customs (along with applicable interest as notified by DoR) of an amount equal to that proportion of the duty leviable on the goods which bears the same proportion as the unfulfilled portion of the export obligation bears to the total export obligation.
5.8.3
Where export obligation of any particular block of years is not fulfilled in terms of the above proportions, except in such cases where the export obligation prescribed for a particular block of years is extended by the Regional Authority for authorizations upto Rs.50 crores, and by DGFT for other cases, subject to payment of composition fee of 2% on duty saved amount equal to unfulfilled portion of EO, such Authorisation holder shall, within 3 months from the expiry of the block of years, pay duties of customs (along with applicable interest as notified by DoR) of an amount equal to that proportion of the duty leviable on the goods which bears the same proportion as the unfulfilled portion of the export obligation bears to the total export obligation.