Advance Licence export obligation extensions allowed on monthly composition fee proportionate to unfulfilled obligation, subject to exclusions and compliance. RCMC will not be required for exports of shoddy and specified wool products. Advance Licence export obligations may be extended beyond 30 months on payment of a monthly composition fee proportionate to the unfulfilled FOB value vis-a -vis CIF of imports actually made; extensions are barred for former Value Based Advance Licences, where breaches, misrepresentation, fraud, or prior adjudication orders exist. Appendix 3 (IEC application) is amended with prescribed declarations and banker's certificate requirements. DEPB/DFRC applications may accept FIRC for direct negotiation of documents with a declaration linking remittance to the Shipping Bill(s).
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.
Advance Licence export obligation extensions allowed on monthly composition fee proportionate to unfulfilled obligation, subject to exclusions and compliance.
RCMC will not be required for exports of shoddy and specified wool products. Advance Licence export obligations may be extended beyond 30 months on payment of a monthly composition fee proportionate to the unfulfilled FOB value vis-a -vis CIF of imports actually made; extensions are barred for former Value Based Advance Licences, where breaches, misrepresentation, fraud, or prior adjudication orders exist. Appendix 3 (IEC application) is amended with prescribed declarations and banker's certificate requirements. DEPB/DFRC applications may accept FIRC for direct negotiation of documents with a declaration linking remittance to the Shipping Bill(s).
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
