EO Default may be Paid through DEPB

[DGFT Notification No. 32 dated 26th February 2010]

In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with Para 1.3 of the Foreign Trade Policy (FTP), 2009-14, the Central Government hereby makes the following amendment in Foreign Trade Policy:

1. The first sentence of Para 3.17.11 of FTP 2009-14 is replaced as under:

“Duty Credit Scrips can also be used / debited towards payment of Customs Duties in case of EO defaults under Authorizations issued under Chapters 4 and 5 of the Policy”.

This issues in Public Interest.