8.88 A Replenishment Licence for duty free import of consumables, equal to 1% of FOB value of exports of the preceding year may be issued on production of Chartered Accountant"s Certificate indicating the export performance and surrender of REP licence with a balance validity of minimum of three months issued under chapter 8. This licence shall be non-transferable and subject to actual user condition. This Replenishment Licence shall be valid for duty free import of consumables as notified by the Customs.

A Replenishment Licence for import of plain / studded jewellery items equal to 2.5% of the FOB value of exports of preceding year may be issued on production of Chartered Accountant"s Certificate indicating the export performance. These imports shall be on payment of applicable duty.

Application for import of consumables or import of plain/studded jewellery as given above may be made to the concerned Regional Licensing Authority in the form given in Appendix 15A.