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1.
Revalidation OF Duty free Advance Licence
2.
Extension of Export Obligation Period OF Duty free Advance Licence
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| REVALIDATION
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| 1 |
An Advance Licene
is issued under Duty Exemption Scheme may be revalidated on
merits by the licensing authority concerned, which has issued
the licence for a period of Six Months at a time but not beyond
a period of 12 Months reckoned from the date of expiry of the
validity period |
| 2 |
An
Application for revalidation may be made to the licensing authority
concened in the form given in Appendix 12 . However , to such
cases where revalidation of the licence is to be considered
by DGFT, the originals application alongwith TR shall be submitted
to the regional licensing Authority concerned the copy of the
same shall be submitted to DGFT |
| 3 |
In terms of Para
7.23 HBP the regional Licensing authority may consider a request
of the Original licence holder and grant one revalidation for
a period of six months from the date of expiry of the original
licence
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| 4 |
Request for further
revalidation may be considered by the regional licensing
authorities. However such revalidation shall not exceed a period
of Six Months from the date of expiry of earlier revalidation |
| 5 |
The request for
revalidation of licence shall be made in the form given in Appx-12 |
| 6 |
In case the exporter
is not able to complete exports even in this enhanced period,
provision has been made for extension of export obligation period
by Regional Licensing Authority to the extent of 6 months on
payment of penalty @ 1% of unfulfilled export obligation value.
This will also provide an incentive to the exporter to complete
export obligation within the extended period of validity of
advance licence. |
| 7 |
The Export obligation
period under Advance Licence has been enhanced from 12 months
to 18 months and similarly the validity of the Advance Licence
has also been enhanced form 12 months to 18 months, hence the
exporter gets more time of export and import |
| Export Obligation Period and
its Extension : |
| A |
Original Period of EOP :
The Period of fulfillment export obligation under an Advance
Licence shall
commence from the date of issuance of Licence. The Export Obligation
shall be fulfilled with in a period of 18 months except in the
case of supplies under Advance Licence for Deemed Exports/Advance
Licence to the Project/turnkey projects in India/Abroad where
the ex[poprt obligation must be fullfiled during the contracted
duration of executrion of project/turnkey projects |
| B |
First Extenion of EOP :
In terms of Para 7.22 HBP the regional Licensing authority may
consider a request of the Original licence holder and grant
one request fron EOP for a period of six months from the date
of expiry of the original export obligation period to the from
the date of expiry of the original licensee subject to payment
of composition fee of 1% on the unfulfilled FOB Value of export
obligation with reference to the CIF Value of Imports made for
which the extension is being sought |
| C |
Second Extenion of EOP :
In case the exporter is not able to complete exports even
in this enhanced period, provision has been made for extension
of export obligation period by Regional Licensing Authority
to the extent of 6 months on payment of penalty @ 5% on the
unfulfilled FOB Value of export obligation with reference
to the CIF Value of Imports made for which the extension is
being sought
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| D |
An Application for extension in EOPmay be made to the licensing
authority
concened in the form given in Appendix 12.
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