Closure of Advance Authorisation licences as per para 4.16(a) of FTP 2009-14, pending for want of payment to be received from Foreign currency account of SEZ unit
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Payment realisation from SEZ Foreign Currency Account - FCA-only requirement applies to newer FTP; earlier licences may allow INR realisation. Closure and redemption of Advance Authorisation and DFIA licences where supplies to SEZ units resulted in payment realised in Indian Rupees may be allowed if the transaction conforms to the provisions of FTP 2009-14, since that regime did not require payment from the SEZ unit's Foreign Currency Account; licences issued under the subsequent FTP remain subject to the FCA realisation requirement for discharge of export obligation.
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.
Payment realisation from SEZ Foreign Currency Account - FCA-only requirement applies to newer FTP; earlier licences may allow INR realisation.
Closure and redemption of Advance Authorisation and DFIA licences where supplies to SEZ units resulted in payment realised in Indian Rupees may be allowed if the transaction conforms to the provisions of FTP 2009-14, since that regime did not require payment from the SEZ unit's Foreign Currency Account; licences issued under the subsequent FTP remain subject to the FCA realisation requirement for discharge of export obligation.
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