(a) The validity of import licence from the date of issue of licence shall be as follows

(i)Advance Licence as per chapter-7 and replenishment licence for Gem & Jewellery as per chapter- 8 of the Policy 18 months

(ii) EPCG licence 24 months

(iii) Others including CCP, DFRC and DEPB, unless otherwise specified 12 months

(iv)Advance licence for Turnkey project 18 months or Co-terminus with the contracted duration of execution of the project whichever is later.

(v) Advance Licence for Annual Requirement 12 months

(b) Where the date of expiry of the licence falls before the last day of the month, the licence shall be deemed to be valid until the last day of the month.

(c) The period of validity means the period for shipment / dispatch of goods covered under the licence. The validity of an import licence is decided with reference to the date of shipment / dispatch of the goods from the supplying country as given in paragraph 15.15 of this Handbook and not
the date of arrival of the goods at an Indian port

The Provisions of paragraph (b) and (c) above shall not be applicable to DEPB. DEPB which is in the nature of duty credit entitlement must be valid on the date on which actual debit of duty is made.

(Public Notice No.35(RE-00)/1997-2002 dated the 29-9-2000)