Advance licence & lut

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2014 Hi Experts !

Could u help me to get the understood what is the Advance Liecence, What is the LUT, What is the bond?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

13 January 2014 An advance licence is granted for the import of inputs without payment of basic customs duty. Such licences shall be issued in accordance with the policy and procedure in force on the date of issue of the licence and shall be subject to the fulfillment of a time-bound export obligation

must noted that:

All exporters who have an export turnover (physical exports) of Rs 5 crores in current or preceding financial year and having a good track record of three years of exports does not require the BG -Nil

Manufacturer exporters registered with Central Excise, who have paid central excise duty of Rs.1 crore or more during the preceding financial yeaR - NIL

UNITS Public Sector Undertaking,Star Export House,
Manufacturer exporters registered with Central Excise, who have been exporting during the previous two financial years and have minimum export of Rs. 1 crore or more during the preceding financial year

Manufacturer exporters who under above -Bank Guarantee will be paid @ registration of epcg licences in customs.

for more information must read Circular No.58/2004-Cus21st October, 2004

must see:
https://dgftcom.nic.in/exim/2000/policy/chap-04.htm

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2014 Respected Sir,

Thanks For Such A Prompt Reply !

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

13 January 2014 you are also putup any query in this club Dear.

ramesh verma

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now