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of <h1>New Guidelines for Extending Export Obligation Period for Advance Licences; Apply Within 60 Days, Exclusions Apply.</h1> The Director General of Foreign Trade has issued guidelines for extending the export obligation period for Advance Licences for physical exports issued on or after April 1, 1997. Licence holders who have not fulfilled their export obligations within the stipulated 30 months can apply for a six-month extension by submitting a Bank Guarantee covering Customs duty and interest. Applications must be filed within 60 days of the notice. Extensions are not granted for cases involving fraud or where adjudication orders are passed. Exports completed outside the original period may be regularized with a composition fee. Provisional clearance of exports is allowed at the exporter's risk.
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