Utilisation restriction: exempt imports under advance licences cannot be disposed before export obligation is discharged and proceeds realised. Amendment imposes a utilisation restriction: exempt materials imported under value based advance licences cannot be disposed of or used except to meet the export obligation until that obligation is discharged and export proceeds realised. It treats electronic goods covered by a single serial number in the Standard Input Output and Value Addition norms as a single export product, adjusts the reference for licence value to licences issued up to the stated cut-off, and changes schedule timing to run from the date of issue of the licence instead of clearance of the first consignment.
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.
Utilisation restriction: exempt imports under advance licences cannot be disposed before export obligation is discharged and proceeds realised.
Amendment imposes a utilisation restriction: exempt materials imported under value based advance licences cannot be disposed of or used except to meet the export obligation until that obligation is discharged and export proceeds realised. It treats electronic goods covered by a single serial number in the Standard Input Output and Value Addition norms as a single export product, adjusts the reference for licence value to licences issued up to the stated cut-off, and changes schedule timing to run from the date of issue of the licence instead of clearance of the first consignment.
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