7A.05
- Document type
- Procedure
- Dated
Audit mechanism
7(A).05
Audit mechanism
(a) 10% of the cases in which benefit(s) under this chapter has/have already been granted, would be selected on random basis. Where ever required, RA may call for original documents for verification. Failure to submit documents in original would make applicant liable to refund the assistance along with interest, from the date of issuance of assistance.
(b) In case any discrepancy and/or over claim is found on such examination, the applicant shall be under obligations to rectify such discrepancy and /or refund the excess claimed with interest at the rate of 15% per annum on the recoverable amount within one month. Cases of fraud, misrepresentation/misdeclaration, falsification and fabrication of documents or other wilful default would be dealt as per penal provisions of the FTP/FT(D&R)Act 1992/FT(R) Rules 1993.
(c) The RA may also reassess any case, where any erroneous/in-eligible payment has been made/claimed. RA will take necessary action for recovery of excess obtained along with interest at the rate of 15% per annum on the recoverable amount.
(d) In addition, Where ever required, RA may also cross check the facts/documents as submitted by exporter with the concerned issuing authority.
(Above para has been added vide PUBLIC NOTICE NO. 82/2018, DT. 29/03/2019 )