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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Advance Licence Imports Exempt from Customs Duties Under Customs Act, 1962: Conditions & Compliance Requirements</h1> The notification exempts goods imported into India under an Advance Licence from customs duties, as per the Customs Act, 1962. These goods, necessary for manufacturing or replenishing materials for export products, are exempted from duties under specified conditions. Importers must present a Duty Exemption Entitlement Certificate, make a written claim, and execute a bond to comply with these conditions. The materials must be used for manufacturing resultant products or exported as mandatory spares. Specific ports and airports are designated for import and export, and the notification outlines conditions for transferring products to other Advance Licence holders. The notification is effective from April 1, 1990.
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