Business

CAG finds gaps in levying anti-dumping duties, export promotion schemes

National auditor CAG has found several cases of non-compliance and escaping of anti-dumping duties besides gaps in export promotion schemes such as the Export Promotion Capital Goods (EPCG) resulting in revenue loss to the exchequer in financial year 2017-18.

While several instances of short-levying or no-levying of anti-dumping duties amounting to Rs 86.69 crore were reported during the period, a revenue of Rs 306 crore was due from traders who had availed the benefits of EPCG scheme but not fulfilled export obligations.

As regards non/short levying of anti-dumping duty, the department (Customs) accepted observation amounting to Rs 53 crore and reported recovery of Rs 1.20 crore.

The CAG in its report has said that despite the government assurances on the audit recommendations, there was no substantial improvement in the control and monitoring mechanism of EPCG licences.

“Revenue of Rs 306 crore was due from exporters/importers who had availed of the benefits of EPCG scheme, but had not fulfilled the prescribed export obligations/conditions,” the CAG observed.

The auditor said that data for import and export transactions for the year 2017-18 was received with much delay from Central Board of Indirect Taxes and Customs (CBIC) and that too with many gaps and deficiencies. It noticed 49 cases of under assessments of applicable customs duties due to misclassification of imported goods, incorrect application of general exemption and incorrect levy of applicable levies and other charges.

As a result, revenue of Rs 88.42 crore was at risk.

In case of various export promotion schemes, the CAG scrutiny revealed irregularities in fixation of export obligation, clearances of restricted goods in Domestic Traffic Area, allowing benefits of duty exemption and remission schemes.

“Revenue of Rs 40.51 crore was due from exporters/importers who had availed of the benefits of the duty exemption, but had not fulfilled the prescribed obligations/conditions,” the national auditor said.

The CAG also detected irregularities in awarding major works of Santacruz Electronics Export Processing Zone (PZ) Special Economic Zone (SEZ) authority.

“The audit findings are indicative of weak administrative, financial and audit controls over the way in which major works, maintenance and repair works, are being outsourced to external agencies by the authority. The expenditure involved was Rs 67.91 crore,” the CAG audit report said.

34 Comments

34 Comments

  1. Pingback: cook-county-ductless.info

  2. Pingback: CBD Flower

  3. Pingback: pengeluaran sgp hari ini

  4. Pingback: so de

  5. Pingback: kalpa pharma testosterone enanthate

  6. Pingback: buy/order hydrocodone online pharmacy legally cheap no script for pain, anxiety from USA UK Canada Australia Europe overseas overnight delivery

  7. Pingback: charlottes web cbd oil

  8. Pingback: 6 in-camera video transitions in 120 seconds

  9. Pingback: bitcoin loophole review

  10. Pingback: evolution brokers review

  11. Pingback: british dragon lab results

  12. Pingback: best cbd oil reddit

  13. Pingback: Learn More

  14. Pingback: DevSecOps Services

  15. Pingback: replica watch

  16. Pingback: diamond paintings

  17. Pingback: best replica watch site

  18. Pingback: VTech LS6475-2 manuals

  19. Pingback: Hempstead Tow

  20. Pingback: diamond painting

  21. Pingback: CENTERFIRE REVOLVERS

  22. Pingback: does guardian dental cover denturessays:

  23. Pingback: Og Kush

  24. Pingback: 뉴토끼

  25. Pingback: slot online sultan play

  26. Pingback: Buycannabinoidssales.com is one of the largest suppliers of high quality Research Chemicals in UK.

  27. Pingback: exchange online price

  28. Pingback: psychedelic online store

  29. Pingback: Thomas Bee on LinkedIn: CBD Softgels with Curcumin

  30. Pingback: 단비무비

  31. Pingback: Vanessa Getty wiki

  32. Pingback: คาสิโนออนไลน์เว็บตรง

  33. Pingback: more tips here

  34. Pingback: DevOps consulting in US

Leave a Reply

Your email address will not be published.

four − 2 =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

Address:
D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us