PARA 5.10
- Document type
- Procedure
- Reference no.
- 10
- Dated
- Category
- HB Vol.1 ( upto 31/08/2004)
Automatic enhancement upto 10% and prorata reduction/ enhancement in export obligation
5.10
If the licence issued under the scheme has actually been utilised for import of a value in excess of 10% of the CIF value of the licence/10% of the duty saved amount, licence shall be deemed to have been enhanced by that proportion. The Customs shall automatically allow the clearance of goods in excess of 10% of the licence value without endorsement by the licensing authority, In such cases, the licence holder shall furnish additional fee to cover the excess CIF value of imports effected subsequently. The export obligation shall automatically stand enhanced proportionately.
If the licence issued under the scheme has actually been utilised for import of a value in excess of 10% of the CIF value of the licence/10% of the duty saved amount, licence shall be deemed to have been enhanced by that proportion. The Customs shall automatically allow the clearance of goods in excess of 10% of the licence value without endorsement by the licensing authority, In such cases, the licence holder shall furnish additional fee to cover the excess CIF value of imports effected subsequently. The export obligation shall automatically stand enhanced proportionately.