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.

However, in case of Advance Licences for drugs, which have been issued against a specific export order and with pre-import condition the period of fulfillment of export obligation shall commence from the date of import of the first consignment and shall be fulfilled within a period of 6 months.

(Above para has been added at the end vide P.N. No. 25/2003, Dt. 17/09/2003)

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