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)
]