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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Ministry clarifies QBAL licences under paragraphs 62/62A equivalent to paragraph 50 for customs duty exemption benefits</h1> The Ministry of Finance clarified that Quantity Based Advance Licences (QBAL) issued under paragraphs 62/62A of the Export-Import Policy should be treated as equivalent to licences issued under paragraph 50 for all purposes. This clarification resolved difficulties faced by customs authorities in extending duty exemption benefits under Notification No. 204/92-Customs to imports against QBAL licences issued under paragraph 62A. The Directorate General of Foreign Trade confirmed that existing QBAL licences under paragraphs 62/62A should be deemed issued under paragraphs 50 or 55 as applicable, and future QBAL licences under these provisions will be issued directly under paragraph 50. Customs authorities were directed to issue public notices for trade information and staff guidance, with copies forwarded to relevant departments for implementation.
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