Revalidation of Special Imprest Licence and Prorata reduction of export obligation in value terms under quantity wise Advance licence

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..... Imprest Licence and Prorata reduction of export obligation in value terms under quantity wise Advance licence. It has been represented to this Directorate that revalidation of Special Imprest Licence is being denied as paragraph 7.23 of the Handbook of Procedures (Vol.1) (RE-98) 1997-2002 is not applicable to Special Imprest Licence. It may be clarified that Special Imprest Licences issued .....

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..... eference to the aggregate CIF value of imports. For example, if a licence has been issued for US$10,000 with an export obligation of US$40,000 and the actual imports effected is US$2000, the export obligation shall stand reduced to US$8000 irrespective of the fact whether a particular input has been imported for 100% of the value earmarked for the same. This issues with the approval of DGFT. .....

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