TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>DGFT Circular: Regularizing VABAL Shortfalls; Convert to QABAL if Shortfall Exceeds 15% of Export Obligation.</h1> The circular from the Directorate General of Foreign Trade addresses the regularization of Value Based Advance Licences (VABAL) when there is a shortfall in achieving the stipulated value addition. It clarifies that the import entitlement for VABAL is based on value addition, unlike Quantity Based Advance Licences (QABAL). If a firm does not meet the declared value addition but achieves the minimum prescribed value, and the shortfall is within 15% of the total export obligation, the case is regularized per an earlier circular. If the shortfall exceeds 15%, the VABAL must be converted to QABAL. This directive is approved by the Director General of Foreign Trade.
TaxTMI 
TaxTMI 
