4.15

Undertaking

Applicant shall give an undertaking that he shall abide by norms fixed by Norms Committee and accordingly take following actions without any demur:

(i) Pay customs duty saved, together with interest as notified by DoR, on excess inputs as per norms fixed by NC. However, in case Norms Committee allows lower norms for one, more, or all inputs authorisation holder will have option to undertake additional EO in proportion to excess inputs.

(ii) In case application is rejected by Norms Committee, authorization holder shall pay duty saved amount along with interest on inputs, as applicable as notified by DoR. In cases of domestically procured inputs, the amount to be paid shall be based on exemptions/refund availed on customs duty/taxes/cess by the domestic supplier.

(iii) Applicant shall deposit amount as per paragraph 4.49(a)(ii) of HBP in case the inputs were not freely importable. This amount is in addition to the amounts in sub-paragraph (i) above.