Every advance licence holder shall maintain a true and proper account of consumption and utilization of duty free imported / domestically procured goods against advance licence as per the format given in Appendix 23. These records are required to be sent to the relevant licensing authority(s) at the beginning of each licensing year for all those licences, which have been redeemed in the previous licensing year. However these records in the said format are required to be submitted for licences issued on or after 13.05.2005. Such records should be preserved for a period of at least three years from the date of redemption.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures.
Representations have been received from the trade and industry that a doubt has arisen in the field formations of customs on the issue of allowing alternative inputs as per SION under DFRC scheme even if exactly the same input, in the product value added chain, has not been utilized in the manufacture of the exported product.
The principal notification was published in the Gazette of India vide notification No. 62/94-Customs (N.T.), dated the 21st November, 1994 [S.O. 829(E), dated the 21st November, 1994 ] and last amended vide notification No. 91/2005-Customs (N.T.), dated 4th October, 2005 [S.O. 1448(E), dated 4th October, 2005].
The principal notification No. 61/94-Customs (N.T.), dated the 21st November, 1994 was published vide number S.O. 828 (E), dated the 21st November, 1994 and was last amended vide notification No. 90/ 2005-Customs (N.T.), dated the 4th October 2005 and published vide number S.O. 1447(E), dated the 4th October 2005.
