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of <h1>1992 Notification: Customs Duty Exemption for Imports Under Value Based Advance Licence with Conditions and Amendments.</h1> The 1992 notification exempts goods imported under a Value Based Advance Licence from customs duties, provided they adhere to specific conditions. These include presenting a Duty Exemption Entitlement Certificate, executing a bond or legal undertaking, and fulfilling export obligations within a specified timeframe. Imports and exports must occur through designated ports, airports, or container depots. The notification restricts the disposal of exempt materials until export obligations are met and allows transferability of licences under certain conditions. Amendments have been made over the years, with the latest in 2017, affecting the applicability and conditions of the exemption.
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