Maintenance of Proper Accounts. 4.30

Every advance licence holder shall maintain a true and proper account of consumption and utilization of duty free imported / domestically procured goods against advance licence as per the format given in Appendix 23. These records are required to be sent to the relevant licensing authority(s) at the beginning of each licensing year for all those licences, which have been redeemed in the previous licensing year. However these records in the said format are required to be submitted for licences issued on or after 13.05.2005. Such records should be preserved for a period of at least three years from the date of redemption.

(Above para 4.30 has been amended vide PN.NO. 60/2005, DT. 10/10/2005)

[OLD-
4.30

Every licence holder shall maintain a true and proper account of licence-wise consumption and utilisation of imported goods in Appendix-23. Such records should be preserved for a period of at least three years from the date of redemption. ]