Imports against advance licences or replenishment licences - 253/86 - Customs -Tariff

Imports against advance licences or replenishment licences Notification No. 253/86-Cus. Dated 16-4-1986 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment to notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 117-Customs, dated the 9th June, 1978, namely :— In the Explanation to the said notification, after clause (vi), the following clause shall be inserted, namely :— '(vii) "imported against advance licence" includes goods allowed for import under the OGL in terms of the import and export policy for the time being in force and so imported under OGL but warehoused under Chapter IX of the Customs Act, 1962 (52 of 1962), if at the time of clearance out of the warehouse a valid advance licence for such goods is produced by the exporter.'