Advance License - Extention

[SHOEB VAPIWALA]

Dear Sir

Advance License issued against export obligation for a period of 6 years. You are requested to guide us in the light on present Exim Policy whether

1. Can it be extend for another 2 years?

2. If once already extended can it extended for another term?

3. Is there any penalty on extending the terms on 1st or 2nd time?

Thanks

VAPIWALA S G

AI Summary

Advance Authorisation extension: one-time six-month extension permitted subject to composition fee for unfulfilled export obligation.
Advance Authorisation EO ordinarily begins on issue and must be fulfilled within 18 months unless otherwise specified. RA may consider one extension of EO up to six months from the EO expiry date, and that one time extension is subject to payment of a composition fee of 0.5% of the shortfall in EO; a conflicting practitioner view in the discussion suggests two six month extensions with higher composition fees under FTP/HBP.