4.7.1

The CIF value of one or more such licences shall be Rs.50 lakhs or 100% of the FOB and/or F.O.R value of preceding year exports/supply, whichever is more. However Export House/ Trading House/Star Trading House/Super Star Trading House can claim one or more such licences upto 200% of the FOB value of preceding year exports.

The new comers shall also be entitled for licenses in this category upto their entitlement or for a CIF value not exceeding Rs.50 lakhs, whichever is more, subject to furnishing of 100% Bank Guarantee to Customs authority to cover the exemption from Customs duties together with 15% interest. A specific endorsement to this effect shall be made on the licence.