Amendments in regularisation procedure for Advance Licences and DEPB Rate list amendments

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.... terms of value but there is a shortfall in terms of quantity, the licence holder shall, for the regularisation, pay:- (a) To the customs authority, customs duty on the unutilised value of the imported material alongwith interest at the rate of 24% per annum thereon; and (b) An amount equivalent to 3% of the CIF value of unutilised imported material through a TR in the authorised branch of the Central Bank of India indicating the "Head Account: 1453 - Foreign Trade and Export Promotion and Minor head: 102". However, the provision of this sub-paragraph (b) shall not be applicable if the unutilised imported material was freely importable on the date of import. (ii) If the export obligation is fulfilled in terms of quantity but not value, ....

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....nimum prescribed value addition, he shall be required to deposit an equivalent amount through TR in the authorised branch of Central Bank of India indicating the "Head Account: 1453 - Foreign Trade and Export Promotion and Minor head: 102" so that 100 times the deposited amount and the FOB value realised in Indian rupees together account for minimum prescribed value addition over the CIF value. 3) The first sentence of S.No 2 of paragraph 7.51 is amended as under: "An application fee equivalent to 10% of the DEPB entitlement or 3.5% of the DFRC entitlement (as the case may be) in respect of the lost Shipping Bills.: 4) The following amendments/ corrections shall be made in Appendix 28 A which pertains to the DEPB rate list (i) Product ....