Regularisation of advance licences requires customs duty, interest and specified deposits when export obligations are short in quantity or value. Revised regularisation under the Export and Import Policy 1997-2002 requires payment of customs duty with interest on unutilised imported material and deposits into the designated Head Account where export obligations fall short in quantity or value; deposits must, when multiplied and combined with realised FOB, satisfy minimum or positive value addition requirements. Earlier 1992-97 licences follow their governing procedures but must submit bank realisation certificates and face the same deposit mechanism for insufficient value addition. Administrative changes include a fee for lost shipping bills, DEPB rate list amendments with value caps and blended textiles guidance, and addition of an authorised Certificate of Origin issuer.
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Provisions expressly mentioned in the judgment/order text.
Regularisation of advance licences requires customs duty, interest and specified deposits when export obligations are short in quantity or value.
Revised regularisation under the Export and Import Policy 1997-2002 requires payment of customs duty with interest on unutilised imported material and deposits into the designated Head Account where export obligations fall short in quantity or value; deposits must, when multiplied and combined with realised FOB, satisfy minimum or positive value addition requirements. Earlier 1992-97 licences follow their governing procedures but must submit bank realisation certificates and face the same deposit mechanism for insufficient value addition. Administrative changes include a fee for lost shipping bills, DEPB rate list amendments with value caps and blended textiles guidance, and addition of an authorised Certificate of Origin issuer.
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