Para 4.26
(NO CHANGES)
4.26
In case the export obligation has been fulfilled, the licensing
authority shall redeem the case. After redemption, the licensing authority shall
forward a copy of the redemption letter indicating the shipping bill number(s),
date(s), FOB value in Indian rupees as per shipping bill(s) and description of
export product to the Customs authority at the port of registration. Before
discharging BG/LUT against the Advance Licence, the Customs shall verify that
the details of the exports as given in the “Redemption Certificate” are as per
their records.
Ordinarily, redemption of LUT shall not preclude the
customs authority from taking action against the licence holder for any
misrepresentation, mis-declaration and default detected subsequently.
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