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Extension of the Export Obligation Timeframe to the Advance License

Advance License allows the importation duty-free of manufacturing equipment to create export-oriented goods.

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Extension of the Export Obligation Timeframe to the Advance License

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  1. Extension of the Export Obligation Timeframe to the Advance License www.dgftguru.com

  2. The primary benefits of obtaining the Advance License are: The exporter is exempted from the need to pay Customs charges. The exporter is also exempt from paying any Customs taxes, like education cess, among other customs duties. The applicant is not obliged to cover the costs of guard duty or security. www.dgftguru.com

  3. What is the Export Obligation Period? What could you do to prolong the time frame of the Export Obligation? In the event of the application for an Advance License, the export obligation period is set at an 18-month period beginning from when the license was approved. In the majority of cases the timeframe to execute the obligation to export begins on the date of issue by the Directorate General of Foreign Trade (DGFT) or when it's not specified, the date will be stated within the Advance License. If an exporter does not meet the requirement of export within a time frame, the exporter may then apply for an extension of the requirement to sell with the terms of an Advance License. In the majority of cases, the exporter must finish the export requirement within 18 months of the date that a license was granted by the authority that issued the license. www.dgftguru.com

  4. Do you have any questions? Send it to us! We hope you learned something new. www.dgftguru.com

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