T N C Rajagopalan

The ICPO referred to by you does not give you full payment security, as, say, a bank guarantee or irrevocable LC would give

If the importer fails to comply with the condition of the notification which was claimed at the time of import, the duty is required to be paid as per the rate applicable

The requirement of producing the space availability certificate for clearance of goods to be deposited in a bonded warehouse has been done away with

SEZ units have to only achieve positive NFE and so the Customs need not demand refund of customs duty on the inputs

I suggest you claim refund of CVD, SAD and cess paid towards regularisation of the default under advance authorisation

The duty concessions are available under exemption notifications and some of them mandate the procedures prescribed under the said IGCR Rules.

RBI rules allow AD Category-1 banks to close BoE for such import transactions where write-off is due to short shipment or destruction of goods by port/Customs/health authorities

If an LC specifies the details of a shipping mark, the documents mentioning the marks should show these details; additional information is acceptable provided it is not in conflict with the LC terms