Prior import requirement for raw cotton mandates import before export of cotton yarn under duty exemption scheme. Licensing authorities must issue duty free licences for export of cotton yarn only with a specific condition that import of raw cotton shall precede export by the licencee to fulfil the export obligation; replenishment imports of raw cotton under the duty exemption scheme are not permitted and both quantity and value based licences must reflect this condition.
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.
Prior import requirement for raw cotton mandates import before export of cotton yarn under duty exemption scheme.
Licensing authorities must issue duty free licences for export of cotton yarn only with a specific condition that import of raw cotton shall precede export by the licencee to fulfil the export obligation; replenishment imports of raw cotton under the duty exemption scheme are not permitted and both quantity and value based licences must reflect this condition.
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