NEW
4.22.1
The request for extension in export
obligation period may be made in the form given in Appendix-10G. The regional
licensing authority shall grant one extension for a period of six months from
the date of expiry of the original export obligation period to the licensee
subject to payment of
a) Composition fee of 1% of the unfulfilled FOB
value of export obligation with reference to CIF value of imports made for which
extension is being sought
Or
b) unfulfilled FOB value of
quantitywise exports to be completed for fulfilling export obligation vis a vis
the imports made ( in case of multiple inputs, the input with the highest import
percentage quantitywise made is to be taken)whichever is higher.
Request for a further extension of six months may be considered by the
regional licensing authorities subject to payment of composition fee of 5% of
a) the unfulfilled FOB value of export obligation with reference to CIF
value of imports made for which extension is being
sought
or
b) unfulfilled FOB value of quantitywise
exports to be completed for fulfilling export obligation vis-à-vis the imports
made (in case of multiple inputs, the input with the highest import percentage
quantitywise made is to be taken)whichever is higher.
However any further
extensions beyond 30 months from the date of issue of the Advance Licence or the
duration of the contracted project (in the case of Advance Licence for Deemed
Exports) or on the lapse of any other extension (s) granted by this office would
be permitted on payment of the composition fee of 1% per month of
a) the
unfulfilled FOB value of export obligation with reference to CIF value of
imports made for which extension is being sought
or
b) unfulfilled
FOB value of quantitywise exports to be completed for fulfilling export
obligation vis-à-vis the imports made (in case of multiple inputs, the input
with the highest import percentage quantitywise made is to be taken)whichever is
higher.
However such extensions would not be permitted in the case of the
erstwhile Value Based Advance Licences (VABALs) and Advance Licence for Annual
Requirement. Additionally, no extension in export obligation would be allowed in
respect of licences where misrepresentation/ fraud has come to the notice of the
licencing authorities. Further, in respect of licences where adjudication orders
have already been passed, no extension in export obligation period shall be
admissible
OLD
4.22.1
The request for extension in export obligation period
may be made in the form given in Appendix-10G. The regional licensing authority
shall grant one extension for a period of six months from the date of expiry of
the original export obligation period to the licensee subject to payment of
composition fee of 1% of
a) the unfulfilled FOB value of export obligation with reference to CIF
value of imports made for which extension is being sought
b) or
unfulfilled FOB value of quantitywise exports to be completed for fulfilling
export obligation vis a vis the imports made ( in case of multiple inputs, the
input with the highest import percentage quantitywise made is to be
taken)
whichever is higher.
Request for a further extension of
six months may be considered by the regional licensing authorities subject to
payment of composition fee of 5% of
a) the unfulfilled FOB value of export obligation with reference to CIF
value of imports made for which extension is being sought
b) or
unfulfilled FOB value of quantitywise exports to be completed for fulfilling
export obligation vis a vis the imports made ( in case of multiple inputs, the
input with the highest import percentage quantitywise made is to be
taken)
whichever is higher.
However any further extensions beyond
30 months from the date of issue of the Advance Licence or the duration of the
contracted project (in the case of Advance Licence for Deemed Exports) or on the
lapse of any other extension (s) granted by this office would be permitted on
payment of the composition fee of 1% per month of
a) the unfulfilled FOB value of export obligation with reference to CIF
value of imports made for which extension is being sought
b) or
unfulfilled FOB value of quantitywise exports to be completed for fulfilling
export obligation vis a vis the imports made ( in case of multiple inputs, the
input with the highest import percentage quantitywise made is to be
taken)
whichever is higher.
However such extensions would not be
permitted in the case of the erstwhile Value Based Advance Licences (VABALs).
Additionally, no extension in export obligation would be allowed in respect of
licences where misrepresentation/ fraud has come to the notice of the licencing
authorities. Further, in respect of licences where adjudication orders have
already been passed, no extension in export obligation period shall be
admissible.
(Above para 4.22.1 has been amended vide PN No.
58/2002-07, Dt. 09/01/2003)
[OLD -
The request for
extension in export obligation period may be made in the form given in
Appendix-10G. The regional licensing authority shall grant one extension for a
period of six months from the date of expiry of the original export obligation
period to the licensee subject to payment of composition fee of 1% of the
unfulfilled FOB value of export obligation with reference to CIF value of
imports made for which extension is being sought. Request for further extension
may be considered by the regional licensing authorities subject to payment of
composition fee of 5% of the unfulfilled FOB value of export obligation with
reference to the CIF value of imports made for which extension is being sought.
Such extension shall however not exceed a period of six months from the date of
expiry of earlier extension.
However any further extensions beyond 30
months from the date of issue of the Advance Licence or the duration of the
contracted project ( in the case of Advance Licence for Deemed Exports) or on
lapse of any other extension(s) granted by this office would be permitted on
payment of a composition fee of 1% per month of unfulfilled part of the export
obligation in proportion to the CIF value of imports actually made at that point
of time. However such extensions would not be permitted in the case of the
erstwhile Value based Advance Licences (VABALs). Additionally , no extension in
export obligation would be allowed in respect of the licences where
misrepresentation/ fraud has come to the notice of the licencing authorities.
Further, in respect of licences where adjudication orders have already been
passed, no extension in export obligation period shall be
admissible.
(Above sub para has been added vide PN No.
25/2002-07, Dt. 17/07/2002)]
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