Clarification regarding surrender of Advance Licence (Exchange Control copy thereof) alongwith Annexures attached therewith to the Authorised Dealers for onward transmission to the RBI, New Delhi
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Exchange control copy retention: authorised dealers retain and forward duty free licence originals to central bank; photocopies suffice for discharge. Authorised dealers must retain the Exchange Control copy submitted for letters of credit or remittances and forward the original to the central bank after full utilisation with related R Returns. Licensing authorities should not insist on surrender of the Exchange Control copy and may accept a photocopy with annexures plus an authorised dealer certificate confirming surrender of the original 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.
Exchange control copy retention: authorised dealers retain and forward duty free licence originals to central bank; photocopies suffice for discharge.
Authorised dealers must retain the Exchange Control copy submitted for letters of credit or remittances and forward the original to the central bank after full utilisation with related R Returns. Licensing authorities should not insist on surrender of the Exchange Control copy and may accept a photocopy with annexures plus an authorised dealer certificate confirming surrender of the original for discharge of export obligation.
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