DES - Transferability of Advance Licence, Modvat Certificate

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..... as per EXIM Policy, 1992-97, where export obligation had been completed on or before 31st December, 1997 but licenses had expired without effecting the imports, a provision was made for endorsement of transferability in accordance with the conditions as laid down therein. Several representations have been received to the effect that in some cases the documents were submitted for grant of endorse .....

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..... 2002, as notified in the Gazette of India Extra-ordinary, Part - II, Section - 3 - Sub-section (ii) vide S.O. No. 283 (E) dated 31.3.1997, the Director General of Foreign Trade hereby notify the following arrangement : In respect of Advance Licenses issued as per EXIM Policy, 1992-97, wherever export obligation against such cases has been completed on or before 31st December, 1997 and the licens .....

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..... uance of MODVAT reversal certificate, in such cases the request for revalidation and transferability may be considered, wherever admissible in terms of Paragraph 7.27 of Handbook of Procedures, 1997-2002, even if the license has already expired and even if 30 months period is already over. However, such licenses which are revalidated and transferability effected, shall be valid only up to 31st Mar .....

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