Decision of Settlement Commission in CBEC- compliance thereof.

Notification No: Circular - 25
Notification Date: 2005-03-30
Issuing Authority: DGFT-Circular
Subject: Decision of Settlement Commission in CBEC- compliance thereof.

GOVERNMENT OF INDIA
MINISTRY OF COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE

Policy Circular No. 25 /2004-2009 Dated : March 30, 2005

To,
All Licensing Authorities

Subject : Decision of Settlement Commission in CBEC – compliance thereof

Attention is invited to Para 2.46 of the Foreign Trade Policy regarding regularization of EO default and settlement of customs duty and interest through the Settlement Commission in the Central Board of Excise & Customs. It has been decided that the decisions of the Settlement Commission, in so far as customs duty and interest thereon are concerned, may be complied with by the Licensing Authority in cases of EO default under intimation to the Adjudicating Authority for regularization purposes. However this will not prevent the Adjudicating Authority from proceeding to decide the cases otherwise in terms of Section 11 of the Foreign Trade (Development & Regulation) Act, 1992 for imposition of penalty where considered necessary.

This issues with the approval of the Director General of Foreign Trade.

(TAPAN MAZUMDER)
Joint Director General of Foreign Trade

(F.No. 18/12/2004-05/ECA.I/PC.III)

Get global trade data online at your fingertips!

Copyright © 2021 Export Genius. All rights reserved