Revalidation of Special Imprest Licence permits limited-term extensions and enables prorata reduction of export obligation under quantity licences. Revalidation of Special Imprest Licence is allowable under paragraph 7.23 of the Handbook of Procedures (Vol.1) (RE-98) 1997-2002, with licences issued prior to 12.11.97 subject to a maximum aggregate validity of thirty months and licences issued on or after 12.11.97 revalidable by licensing authorities but in no case exceeding thirty months from issuance. For quantity-based Advance licences the export obligation in value terms shall be fixed by reference to the aggregate CIF value of actual imports and reduced prorata where actual imports are lower than the licence CIF value, regardless of input-specific import proportions.
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.
Revalidation of Special Imprest Licence permits limited-term extensions and enables prorata reduction of export obligation under quantity licences.
Revalidation of Special Imprest Licence is allowable under paragraph 7.23 of the Handbook of Procedures (Vol.1) (RE-98) 1997-2002, with licences issued prior to 12.11.97 subject to a maximum aggregate validity of thirty months and licences issued on or after 12.11.97 revalidable by licensing authorities but in no case exceeding thirty months from issuance. For quantity-based Advance licences the export obligation in value terms shall be fixed by reference to the aggregate CIF value of actual imports and reduced prorata where actual imports are lower than the licence CIF value, regardless of input-specific import proportions.
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