Request for closure of Advance Authorisation licenses issued as per para 4.16 (a) of FTP, pending for want of payment to be received from Foreign Currency Account
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Foreign Currency Account payment requirement: SEZ units must pay DTA suppliers from FCA to enable Advance Authorisation closure. Payments for supplies received by SEZ units towards fulfilment of export obligation against Advance Authorisations must be made from the SEZ unit's Foreign Currency Account; Development Commissioners are to instruct SEZ units accordingly so authorisation holders can obtain closure, and non compliance may attract regulatory action under the foreign trade law.
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.
Foreign Currency Account payment requirement: SEZ units must pay DTA suppliers from FCA to enable Advance Authorisation closure.
Payments for supplies received by SEZ units towards fulfilment of export obligation against Advance Authorisations must be made from the SEZ unit's Foreign Currency Account; Development Commissioners are to instruct SEZ units accordingly so authorisation holders can obtain closure, and non compliance may attract regulatory action under the foreign trade law.
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