4.22

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 within a period of 18 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.

(Pl. refer PN No. 25/2002-07, Dt. 17/07/2002 for EO extension for AL)