4.1.6
Advance Licences shall be issued with a positive value addition.
However, for physical exports for which payments are not received in freely convertible currency, the same shall be subject to value addition as specified in Appendix-11 of Handbook (Vol.1).
In case of Tea, the minimum value addition under advance licence shall be 100%.
In case of spices (covered by chapter 9 of the ITC (HS) Classifications of Export & Import Items, 2004-09), the minimum value addition under advance license shall be 15%.
(Above sentence has been added vide
NTF. NO. 41/2005, DT. 23/01/2006)