Clearance of goods under advance license to nepal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2014 Dear Sir,

We have imported some raw material to produce Jackets under Advance License.

We have made the finished product out of that and now we have to supply the final product to Nepal (Kathmandu) via Birgunj customs by road ( as per the LC terms mentioned. The LC is in INR).

Please advice is there a way to clear the Export Obligation for the above consignment against the Advance License.

CS M Pota

CS M Pota (Expert)
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21 January 2014 No, you can not discharge Export Obligation by exporting against INR against Advance Licence because,as per Foreign Trade Policy Export remittance must be realised in Foreign Exchange and not in INR

Querist : Anonymous

Querist : Anonymous (Querist)

22 January 2014 Sir,
Please suggest the best possible way to clear the export obligation and dispatch the goods to Nepal.

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