Duty deferment: clearance under advance licence without immediate duty, subject to drawback adjustment and bond security. Duty deferment allows clearance of imported material under an Advance Licence without payment of duty, subject to adjustment of the duty against drawback on export of the specified goods; failure to adjust triggers liability to pay the unadjusted duty with interest, and authorities may require a bond with surety or security to secure compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Duty deferment: clearance under advance licence without immediate duty, subject to drawback adjustment and bond security.
Duty deferment allows clearance of imported material under an Advance Licence without payment of duty, subject to adjustment of the duty against drawback on export of the specified goods; failure to adjust triggers liability to pay the unadjusted duty with interest, and authorities may require a bond with surety or security to secure compliance.
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