DGFT Clarifies Payment terms in HBP 2023 applicable only to cases where AA issued on or after 01.04.2023 [Read Circular]

It was clarified that the provisions concerning the payment of 10% of CIF value and 3% of shortfall in FOB value, as specified in the HBP, are applicable only to cases where AA is issued on or after 01.04.2023
DGFT - Payment terms - HBP 2023 applicable - cases - AA - taxscan

The Directorate has recently received several requests for relaxation in the payment of the 3% amount under Para 4.49(b) and similar provisions of the Handbook of Procedure 2023 ( HBP 2023 ) against Advance Authorisations issued before a certain date. In response to these queries, attention has been drawn to Para 4.48(a) of the HBP…

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