4.27

The Advance Licence including Advance Licence for Annual Requirement issued upto 31.3.2002 shall be governed by the provisions contained in Chapter-7 of the Handbook (Vol.1) (RE-2001).

However, wherever Customs duty is to be paid on unutilised material, the same shall be paid alongwith interest @15% per annum thereon. This facility shall be available to all pending cases of regularisation of bonafide default advance licences irrespective of the date of its issuance including Advance licence (Advance Licence for physical exports), Annual Advance Licence (Advance Licence for annual requirement), Advance Licence for deemed exports (Special Imprest Licence), Advance Licence for Intermediate supply (Intermediate licence).

(Above Paragraph has been added vide PN. No. 09/2003, Dt. 22/05/2003)

Presented by eximkey.com