6.19
- Document type
- Procedure
- Dated
- Category
- HB Vol.1 (upto 31/03/2001)
Regulation of bonafide default
6.19 In case, EPCG licence holder fails to fulfil the prescribed export obligation, he shall pay duties of Customs plus 24% interest per annum to the Customs authority as per paragraph 6.11. In addition, the licence holder shall surrender to the licensing authority SIL of a value equivalent to 5 times the CIF value of actual imports on prorata basis.