Export Obligation Period and its Extension

4.22

The period of fulfillment of export obligation under an Advance Licence shall commence from the date of issuance of licence. The export obligation shall be fulfilled within a period of 24 months except in the case of supplies under Advance Licence for Deemed Exports/ Advance Licence to the projects/turnkey projects in India/abroad where the export obligation must be fulfilled during the contracted duration of execution of the project/ turnkey project.

However, in case of Advance Licences for drugs, which have been issued against a specific export order and with pre-import condition the period of fulfillment of export obligation shall commence from the date of import of the first consignment and shall be fulfilled within a period of 6 months.

In the case of tea, the period of fulfillment of export obligation shall commence from the date of import of the first consignment and should be fulfilled within a period of six months.

(Last paragraph has been added vide PN. NO. 67/2004, DT.02/04/2005)