Redemption procedure

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suresh (Querist)

08 May 2012 Dear Sir

Can you tell me procedure for redemption of advance license with DGFT and Custom, License issued under Bank Guarantee and Bond.

Thanks for reply for my previous question.

Thanks with Regards
Suresh Deshmukh

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

08 May 2012 actually after fulfillment Import & export obligation as per provision laid down if foreign trade policy 2009-2014,

the exporter responsibility for submit the application in prescribed format .

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For Redemption of Advance Licence

GUIDELINES FOR APPLICANTS

1. Two copies of the application must be submitted unless otherwise mentioned.
2. Each individual page of the application has to be signed by the applicant.
3. a. Part 1 & Part 4 has to be filled in by all applicants. In case of applications submitted electronically, no hard copies of Part 1 may be submitted. However in cases where applications are submitted otherwise, hard copy of Part 1 has to be submitted.

b. Only relevant portions of Part 2 & Part 3 need to be filled in.
4. Application must be accompanied by documents as per details given below:

XIV. For Redemption of Advance Licence
a. For physical exports:
1. Bank Certificate of Exports and Realisation in the form given at Appendix 22A or Foreign Inward Remittance Certificate (FIRC) in the case of direct negotiation of documents or Appendix 22D in case of offsetting of export proceeds. However, realisation of export proceeds shall not be insisted if the shipments are made against confirmed irrevocable letter of credit or bill of exchange is unconditionally Avalised/ Co- Accepted/ Guaranteed by a bank and the same is confirmed by the exporters bank and certified by the bank in column 14/15 of Appendix 22A.
2. EP copy of the shipping bill(s) containing details of shipment effected or bill of export in case of export to SEZ
3. A statement of exports giving details of shipping bill wise exports indicating the shipping bill number, date, FOB value as per shipping bill and description of export product
4. A statement of imports indicating bill of entry wise item of imports, quantity of imports and its CIF value.
b. For deemed exports
1. A copy of the invoice or a statement of invoices duly signed by the unit receiving the material and their jurisdictional excise authorities certifying the item of supply, its quantity, value and date of such supply. However in case of supply of items which are non excisable or supply of excisable items to a unit producing non excisable product(s), a project authority certificate (PAC) certifying quantity, value and date of supply would be acceptable in lieu of excise certification. However, in respect of supplies to EOU/EHTP/ STP/ BTP, a copy of ARE-3 duly signed by the jurisdictional excise authorities certifying the item of supply, its quantity, value and date of such supply can be furnished in lieu of the excise attested invoice (s) or statement of invoices as given above.
2. Payment certificate from the project authority in the form given in Appendix-22C. In the case of Advance Licence for Intermediate Supplies/ deemed exports, supplies to the EOUs/ EHTPs/STPs/ BTPs, documentary evidence from the bank substantiating the realisation of proceeds from the Licence holder or EOUs/EHTPs/ STPs/ BTPs, as the case may be, through the normal banking channel, shall be furnished in the form given at Appendix 22B. However realisation of proceeds shall not be insisted upon if the shipments are made against confirmed irrevocable inland letter of credit or inland bill of exchange is unconditionally Avalised/ Co- Accepted/ Guaranteed by a bank and the same is confirmed by the exporters bank and certified by the bank in column 5/6/7 of Appendix 22B
3. A statement of supplies giving details of supply invoices and indicating the invoice number, date, FOR value as per invoices and description of product
4. A statement of imports indicating bill of entry wise item of imports, quantity of imports and its CIF value

regards,

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

08 May 2012 also read para 4.26 of hand book of procedures vol 1, 2009-2014.

regards,

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