Advance licence rules updated: free-of-cost inputs, ALC ratification reuse, and export obligation counting after file number issuance. Amendments revise treatment of Advance Licence schemes: free-of-cost inputs require endorsement on exchange control copies (or no exchange control copy if all inputs are free), and notional values of free inputs are included in value-addition calculations. ALC-ratified norms remain valid six months and may be reused under an 'Adhoc Norms Fixed' category with licensing authority issuance; total licence value under such norms is limited to prior year FOB/FOR exports. Provisional exports after issuance of a file number may be counted toward export obligation with licence issuance using norms in force on application receipt.
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 rules updated: free-of-cost inputs, ALC ratification reuse, and export obligation counting after file number issuance.
Amendments revise treatment of Advance Licence schemes: free-of-cost inputs require endorsement on exchange control copies (or no exchange control copy if all inputs are free), and notional values of free inputs are included in value-addition calculations. ALC-ratified norms remain valid six months and may be reused under an "Adhoc Norms Fixed" category with licensing authority issuance; total licence value under such norms is limited to prior year FOB/FOR exports. Provisional exports after issuance of a file number may be counted toward export obligation with licence issuance using norms in force on application receipt.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
