Duty exemption for imports under Value Based Advance Licence contingent on DEEC compliance, bonds, use restrictions and export fulfilment. Exemption from basic customs duty applies to materials imported against a Value Based Advance Licence and covered by a Value Based Duty Exemption Entitlement Certificate issued on or after 1 April 1995, subject to production of the licence and DEEC at customs clearance, bond and security requirements with specified interest for non-compliance, use restrictions until export obligation discharge, permitted ports/depots for trade, procedural proof of fulfilment to customs authorities within prescribed timeframes, and transferability rules for DEECs with stated exceptions.