4.98 — Regularisation of Bonafide Default in fulfilment of export obligation

Cases of bonafide default in fulfilment of Export Obligation may be regularised by Regional Authority as under:

• (i) The DIA holder shall, for regularization, pay to Customs Authorities, Customs duty on unutilized value of imported material along with interest as notified by DoR. DIA holder shall pay Customs Duty along-with applicable interest online through ICEGATE Payment Gateway.

• (ii) Authorisation holder shall also be required to pay an amount equivalent to 1% of the shortfall in FOB value in Indian rupee, online through DGFT website into major “Head of Account: 1453, Foreign Trade and Export Promotion and Minor Head 102".[xii]

pg. 151

• (i) Para 4.12 amended vide Public Notice No. 09/2023 dated 25.04.2023.

• (ii) Para 4.73(15) amended vide Public Notice No. 24/2023 dated 04.08.2023.

• (iii) Para 4.10(i) amended vide Public Notice No. 34/2023 dated 13.10.2023.

• (iv) Para 4.36(vi) amended vide Public Notice No. 40/2023 dated 12.02.2024.

• (v) Para 4.06(vii) added vide Public Notice No. 51/2023 dated 14.03.2024.

• (vi) Para 4.14(iii) added vide Public Notice No. 51/2023 dated 14.03.2024.

• (vii) Para 4.59 amended vide Public Notice No. 05/2024 dated 27.05.2024.

• (viii) Para 4.49 (b) amended vide Public Notice No. 14/2024 dated 16.07.2024.

• (ix) Para 4.49 (g) amended vide Public Notice No. 18/2024 dated 22.08.2024.

• (x) Para 4.71 amended vide Public Notice No. 32/2024 dated 13.11.2024.

• (xi) Para 4.73 amended vide Public Notice No. 41/2024 dated 15.01.2025.

• (xii) Paras 4.94 to 4.98 added vide Public Notice No. 42/2024 dated 21.01.2025.

• (xiii) Para 4.59 amended vide Public Notice No. 45/2024 dated 04.02.2025.

pg. 152