Policy Circular No. 19/97-98 dated the 1st September 1997

DES
Transitional Arrangements for licences issued prior to 28/2/95 -Utilisation can be upto 31/12/97- No further dispensation

Subject:Revalidation and Extension in Export Obligation Period of Advance Licences issued Under Duty Exemption Scheme.

Attention is invited to Public Notice No. 38(PN) 1997-2002 dated 1 st September, 1997 wherein transitional arrangements for allowing revalidation for making imports and/or extension in the export obligation period in respect of advance licences issued 30 months prior to issuance of that Public Notice (i.e. prior to 28.2.1995) as per EXIM Policy 1992-97 have been laid down.

2. It is further clarified that this is only one-time dispensation and no further requests either for extension in export obligation or revalidation of the validity period or both on such licences shall be considered under any circumstances. Therefore, exporters are advised to file the required documents with the concerned Regional Licensing Authorities immediately and all the licensing authorities are advised to take immediate action as mentioned in the Public Notice No. 38(PN)/1997 -2002 dated 1st September, 1997 and dispose of such pending cases latest by 15th September, 1997 so that the licensees may get reasonable time limit for completing the export obligation and utilise the licences on or before 31.12.1997.

3. This issues with the approval of Director General of Foreign Trade.

Sd/-
(L.B. Singhal)
Dy. Director General of Foreign Trade

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