FRAUDULENT EXPORTS UNDER SCANNER
- The directorate general of foreign trade has recommended banning fraudulent exporters and importers for at least one year
- The Central Board of Excise and Customs (CBEC) has recommended to the Director General of Foreign Trade (DGFT) that the norms for issuing export/import licenses be more stringent. The recommendation followed the findings of an investigation by the Directorate of Revenue Intelligence (DRI). The DRI Findings report inconsistencies in exports of textile and gems and jewellery to specific destinations, especially to the Middle East. The report revealed that export and import codes have been misused to transfer items to sister companies, to claim export promotion benefits, duty drawback benefits and duty concessions, among others.
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