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DGFT Foreign Trade Policy Foreign Trade Policy (wef 23/08/2010) 2.46

2.46

Regularization of EO default and settlement of customs duty and interest through Settlement Commission

With a view to providing assistance to firms who have defaulted under FTP for reasons beyond their control as also facilitating merger, acquisition and rehabilitation of sick units, it has been decided to empower Settlement Commission in Central Board of Excise and Customs to decide such cases also with effect from 01.04.2005.

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