Debiting of advance licence by customs
This query is : Resolved
07 October 2011
Dear Sir,,
We have imported goods against Advance licence and also against DFIA licence.The CIF value is always mentioned IN LICENCES both in INR and USD at the exchange rate prevailing at time of issue. We have placed the order in USD for the full value of the licence. Now due to Exchange rate fluctuation the Custom Authorities are saying that they will not allow import by full USD value because in that case the INR value will exceed with the INR VALUE mentioned in the licence..
CAN ANY ONE TELL ME THE CUSTOM NOTIFICATION/CIRCULAR WHERE IT IS MENTIONED THAT THE LICENCE WILL BE DEBITED ACCORDING TO THE USD VALUE.
We have imported goods against Advance licence and also against DFIA licence.The CIF value is always mentioned IN LICENCES both in INR and USD at the exchange rate prevailing at time of issue. We have placed the order in USD for the full value of the licence. Now due to Exchange rate fluctuation the Custom Authorities are saying that they will not allow import by full USD value because in that case the INR value will exceed with the INR VALUE mentioned in the licence..
CAN ANY ONE TELL ME THE CUSTOM NOTIFICATION/CIRCULAR WHERE IT IS MENTIONED THAT THE LICENCE WILL BE DEBITED ACCORDING TO THE USD VALUE.
RAMESH KUMAR VERMA
(Expert)
12 November 2011
In this regards,refer to HBP vol-1, 2009-2014 Para 4.21.3, WRITE A REQUEST LETTER REGARDING ENHANCEMENT THE CIF VALUE IN CONCERNED RLA.
Please Noted that Application fee leviable for enhancement would be on the difference in CIF values of original and final Authorisation. However, no application fee would be charged if value of Authorisation is being reduced or applicant has paid maximum fee of Rs 100,000 (for manual applications) and Rs 50,000 (for digitally signed applications) respectively in original application for Advance Authorisation/DFIA.
Please Noted that Application fee leviable for enhancement would be on the difference in CIF values of original and final Authorisation. However, no application fee would be charged if value of Authorisation is being reduced or applicant has paid maximum fee of Rs 100,000 (for manual applications) and Rs 50,000 (for digitally signed applications) respectively in original application for Advance Authorisation/DFIA.
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