Value Based Advance Intermediate Licence: duty free imports allowed subject to bonds, actual user condition and Release Advice. Value Based Advance Intermediate Licences allow duty free import of inputs listed in Input Output Norms for manufacture of specified iron and steel intermediates to be supplied to engineering exporters. Importers must execute bonds with the Licensing Authority and Customs, comply with the actual user condition requiring use in their own factory, obtain Central Excise certification of use and non availment of input stage credit, and secure Release Advice before supply; Customs must maintain separate files and report duty foregone.
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.
Value Based Advance Intermediate Licence: duty free imports allowed subject to bonds, actual user condition and Release Advice.
Value Based Advance Intermediate Licences allow duty free import of inputs listed in Input Output Norms for manufacture of specified iron and steel intermediates to be supplied to engineering exporters. Importers must execute bonds with the Licensing Authority and Customs, comply with the actual user condition requiring use in their own factory, obtain Central Excise certification of use and non availment of input stage credit, and secure Release Advice before supply; Customs must maintain separate files and report duty foregone.
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