9911796707
TMI BlogAmendment in the Handbook of Procedure Vol. IX X X X Extracts X X X X X X X X Extracts X X X X ..... ch cases, a specific endorsement shall be made on the exchange control copy of the Advance Licence disallowing remittances for the material being supplied free of cost. In case all the inputs are supplied free of cost , no exchange control copy of the advance licence would be issued. All inputs imported shall be utilised in the manufacturing of the product except the wastage. The value addition in the case of such advance licences would be computed by adding the notional value of the free of cost material to both the CIF value of imports and FOB value of exports. 2. The last sub paragraph of Paragraph 4.7.1 pertaining to "Entitlement" is amended as under: However, in cases where ALC has already ratified the norms for the same export i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d on the input/output norms in force on the date of receipt of the application by the licensing authority in proportion to the provisional exports/supplies already made till any amendment in the norms is notified. For the remaining exports, the Policy/Procedures in force on the date of issue of the licence shall be applicable. 5. Paragraph 4.13 pertaining to "Advance Licence or DFRC for Intermediate Supplies" is amended as under:- The application for grant of Advance License or DFRC for Intermediate supply may be made on the basis of a tie-up agreement with the exporter holding an Advance license for physical exports/deemed exports or DFRC. The licensing authority concerned shall consider such requests. The Advance License or DFRC for In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... considered for clubbing. 7. Paragraph 4.22.1 pertaining to "export obligation period and its extension" is amended as under :- 4.22.1: The request for extension in export obligation period may be made in the form given in Appendix-10G. The regional licensing authority shall grant one extension for a period of six months from the date of expiry of the original export obligation period to the licensee subject to payment of 2% of the duty saved on all the unutilized imported items as per licence; Request for a further extension of six months may be considered by the regional licensing authorities subject to payment of composition fee of 5% of the duty saved on all the unutilized imported items as per licence; However any further extensi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ension in export obligation period in terms of paragraph 4.22 and 4.22.1 of the Handbook of Procedure subject to the payment of composition fee as prescribed therein. Such export obligation period extension should not exceed 12 months from the date of expiry of original export obligation period of the licence. The request(s) for revalidation of licence and/or extension of the export obligation period shall be made in the form given in appendix-10G. 9. A new paragraph 4.24B pertaining to " Advance Licence for Annual Requirements for Intermediate Supplies" is added as under: 4.24 B : The provisions contained in paragraph 4.24A shall also be applicable to "Advance Licence for Annual Requirement for intermediate supplies" so far as they are n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich DFRC is being claimed. 4.34.1: In case of exports against irrevocable Letter of Credit, the DFRC shall be filed within six months from the date of all exports or supplies in respect of which DFRC is being claimed. 12. Paragraph 4.47 and 4.47.1 pertaining to "Time Period" is amended as under: 4.47: The application for obtaining credit shall be filed within a period of six months from the date of exports or within three months from the date of realisation, whichever is later, in respect of shipments for which the claim have been filed. 4.47.1: Wherever provisional shipment has been allowed by the customs authorities, DEPB against such exports shall be issued only after the release of the shipping bill by the Customs. In such cases, a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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