Value Based Advance Licence regularisation: small shortfalls treated under existing policy, larger shortfalls converted to quantity based entitlement. Value Based Advance Licence import entitlement is tied to declared value addition; failure to achieve declared value addition must be regularised under Policy Circular No.28(RE-2000)/2000-2001 where shortfall in value or quantity or both does not exceed fifteen percent of the total export obligation, and licences with shortfalls exceeding fifteen percent must be converted into Quantity Based Advance Licences.
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.
Value Based Advance Licence regularisation: small shortfalls treated under existing policy, larger shortfalls converted to quantity based entitlement.
Value Based Advance Licence import entitlement is tied to declared value addition; failure to achieve declared value addition must be regularised under Policy Circular No.28(RE-2000)/2000-2001 where shortfall in value or quantity or both does not exceed fifteen percent of the total export obligation, and licences with shortfalls exceeding fifteen percent must be converted into Quantity Based Advance Licences.
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