An advance license received for importing a particular material can be get converted for the import of any other material?
If any such option is available then is there any fees payable for that?
2 Replies
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 24 February 2012
An Advance Licence is issued under Duty Exemption Scheme to allow import of inputs which are physically incorporated in the export product (making normal allowance for wastage). In addition, fuel, oil, energy, catalysts etc. which are consumed in the course of their use to obtain the export product, may also be allowed under the scheme. Advance Licence can be issued for:-
- Physical exports
- Intermediate supplies
- Deemed exports.
For physical exports, Advance Licence can also be issued on the basis of annual requirement in respect of export products for which SIONs have been notified. Duty Remission Scheme consists of
- Duty Free Replenishment Certificate and
- Duty Entitlement Passbook Scheme.
NO, you can import only import item on issuance the licence and purchase order which have you already submit in concened RJDGFT office.
refer to para 4.1.3 of foreign trade policy 2009-2014, Prohobited items of imports mentioned in ITC code shall not be imported under advance licence scheme.
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