advance licence enhancement

[sonu parsad]

Dear all,

 

I have taken advance licence to import of RM for manufacturing the goods to export. of CIF USD 100 @ INR 55 , CIF INR = 5500 value

But due to indian rupee depreciation, custom rate is INR 56, so CIF USD 100 @ 56 CIF INR: 5600 value . there is not differ in quanity and cif value USD but CIF value INR is less in advance licence

 

There is requirement of enhance ment of advance licence.

Please advise....

regards,

Sonu Parsad

AI Summary

Seeking Amendment for Advance License Adjustment Due to Currency Depreciation Impacting INR Conversion Rate for Imports. An individual sought advice on adjusting an advance license used for importing raw materials due to currency depreciation affecting the conversion rate from USD to INR. The issue arose because the INR value of the imported goods increased, necessitating an enhancement of the advance license. A respondent advised filing an amendment sheet and an application to the relevant authorities, either the CLA or DGFT, to adjust the value of the Advance Authorization accordingly.