Sponsored
    Follow Us:
Sponsored

F.No. 01/92/180/ 307 /AM00/PC-II/

GOVERNMENT OF INDIA

MINISTRY OF COMMERCE

DIRECTORATE GENERAL OF FOREIGN TRADE

UDYOG BHAWAN, NEW DELHI

Policy Circular No. 17 (RE-99)/99-2000,

Dated :6-7-1999

To

1. All Licensing Authorities

2. All Commissioner of Customs and Excise

3. The Federation of Indian Export Promotion Organization, New Delhi

4. The Export Promotion Councils Commodity Boards

5.All Chambers of Commerce and Industries/Associations on the mailing list.

Subject: Clarification relating to settlement of cases of Duty Exemption Scheme/ Pass Book Scheme/ EPCG Scheme under Kar Vivad Samadhan Scheme Rules, 1998 of Ministry of Finance.

A clarification has been sought whether Kar Vivad Samadhan Scheme is applicable to various Export Promotion Scheme like Duty Exemption Scheme/ Pass Book Scheme/ EPCG Scheme. The matter has been examined in consultation with the Department of Revenue. It is hereby clarified that if the licence holder settles the custom dues under the Kar Vivad Samadhan Scheme, he can only be absolved of his liability in relation to the Customs Duty due and payable. The licence holder is also entitled for grant of immunity from prosecution under the provision the Customs Act, 1962. However, the licence holder is not entitled to claim any benefit in respect of actions that may be initiated by the DGFT for any violation under the Foreign Trade ( Development and Regulation ) Act, 1992, Rules and orders made thereunder including regularization procedure laid down in the Exim Policy and Handbook of Procedure ( Vol.1).

This issues with the approval of DGFT.

( L.B. SINGHAL)

JOINT DIRECTOR GENERAL OF FOREIGN TRADE

( F.NO. 01/92/180/307 /AM00/PC.II )

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
December 2024
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031