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TMI BlogAdvance License - ExtentionX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir Advance License issued against export obligation for a period of 6 years. You are requested to guide us in the light on present Exim Policy whether 1. Can it be extend for another 2 years? 2. If once already extended can it extended for another term? 3. Is there any penalty on extending the terms on 1st or 2nd time? Thanks VAPIWALA S G - Reply By Naveed S - The Reply = Sir, In pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esent scenario, it can be extended only once. It can be extended only for six months period from the EO expiry date. Such one time extension of EO for period of six months, is subject to payment of composition fee of 0.5% of the shortfall in EO. - Reply By MUKUND THAKKAR - The Reply = Sir, Advance License issued against export obligation for a period of 6 years. please check no advance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lic has been issued for 6 years, it may be EPCG lic. In case of extension of EPCG lic. please refer when you have to obtain under which policy period. please follow the accordingly. any extension is permissible under composition fee. - Reply By SHOEB VAPIWALA - The Reply = Dear Mr Mukund Thhakar You are very much correct. The Advance License is issued but it is written as hypothetical 6 yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs instead of actual one. We request you to to guide on the questions asked in the light of current laws applicable to the Advance License only. Thanks with best regards. VAPIWALA S G - Reply By MUKUND THAKKAR - The Reply = Dear, ok In case of advance license two extension is permissible 1 first for the six month with the payment of composite fee guide line is given in chapter 4 for FTP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and HBP v-I. and another extension is also permissible for the period of the six month. with the increase rate of composite payments. as per guide line of FTP and HBP. as per my view two extension is permissible.with two different rate of composite fee. - Reply By Naveed S - The Reply = Sir, Please refer the following para of Chapter 4 regarding Duty exemption under the Foreign Trade H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Book of Procedure (RE - 2012) / 2009-14 (From 5-6-2012) 4.22 Export Obligation (EO) Period and its Extension (a) Fulfilment Period of EO under an Advance Authorisation shall commence from Authorisation issue date, unless otherwise specified. EO shall be fulfilled within 18 months except in case of supplies to projects / turnkey projects in India / abroad under deemed exports category ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... where EO must be fulfilled during contracted duration. (b) RA may consider a re,, quest of Advance Authorisation holder for one extension of EO upto six months from the EO expiry date subject to payment of composition fee of 0.5% of the shortfall in EO. - Advance License - Extention - Query Started By: - SHOEB VAPIWALA Dated:- 2-12-2014 Customs - Import - Export - Customs - SEZ - G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot 5 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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