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)