Import of Sugar - Extension of Export Obligation period
THE Cabinet Committee on Economic Affairs has decided that, the Advance Authorization Holder will be permitted to exercise either of the following options as he chooses in respect of pending unfulfilled export obligations:-
(a) Further extension of time up to 31.12.2011 for export without payment of composition fees.
OR
(b) Abolition of export obligation for past imports provided the importer pays the customs duties as applicable during the relevant period on normal imports, on the quantity of unfulfilled export obligation.
CBEC now clarifies that:
The Advance Authorization Holders who have imported raw sugar between 21.9.04 to 15.4.08 shall be allowed to avail either of the options. Director General Foreign Trade has issued Public Notice No. 29/2009-14, dated 7.1.2010 in this regard. [see - 11.01.2010 ]
CBEC Circular NO. 01/2010-Cus., Dated: January 11, 2010