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TMI BlogRevalidation and Extension in Export Obligation Period of Advance Licences issued under Duty Exemption SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... and Extension in Export Obligation Period of Advance Licences -Transitional Arrangements in respect of Advance Licences issued prior to 28/2/95 Subject: Revalidation and Extension in Export Obligation Period of Advance Licences issued under Duty Exemption Scheme. Attention is invited to Public Notice No.6 (PN)/1997-2002 dated 10th April, 1997 wherein it has been provided that the licenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irector General of Foreign Trade by exercising the powers conferred upon him under Paragraph 4.11 of Export and Import Policy 1997-2002 makes the following arrangements in respect of advance licences issued prior to 28.2.95 : Wherever 100% exports have been completed upto the date of issuance of this Public Notice and no import has been effected or part import has been effected, revalidation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espect of Quantity Based Advance Licences where export obligation has not been completed, last extension upto 31.12.1997 will be allowed. In such cases, the extension will be subject to payment of an amount equivalent to a penalty of 5% on the unfulfilled value of export obligation. In respect of Value Based Advance Licences where expor1 obligation has been completed to an extent of a minimum o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of the validity period or both on such licences shall be considered under any circumstances. 3. The revalidation/ extension in export obligation period or both under such licences shall be allowed directly by the Regional Licensing authority concerned who had issued the licences upon submission of regional licences and DEECs alongwith documents prescribed in the Exim Policy/ Proceduers. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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