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TMI BlogPolicy GuidelinesX X X X Extracts X X X X X X X X Extracts X X X X ..... neral of Foreign Trade hereby lays down the following guidelines for extension in export obligation period in respect of EPCG and Advance Licences: 1. In respect of Advance Licences issued on or after 1.4.92, where the licence holder has failed to complete his export obligation within the stipulated time limit, he can apply for extension of export obligation period for 1½ years from the date of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... extension of export obligation period on submission of a Bank Guarantee, covering the Customs duty in proportion to the unfulfilled export obligation together with 24% simple interest thereon from the date of import upto 30.9.2001. i. Import & Export Policy 1990-93,Vol.I(Paragraph 197 as amended from time to time) notified under Public Notice No.1-ITC (PN) 1990-93 dated 30th March, 1990; ii. E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) notified under Notification No.1(RE) 1992-97 Dated 31st March, 1995. The aforementioned Bank Guarantee shall be forfeited in the event of non fulfilment of export obligation in the extended period. Bank Guarantee should be valid upto 31.3.2002. 3. The request for extension shall be filed with the concerned licensing authority within a period of 60 days from the date of the Public Notice. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion period, such exports shall be deemed to have been made within the prescribed Export Obligation period for the purpose of regularisation of the case. 7. In cases where the Applicant wish to apply for extension in export obligation period prior to 31.3.2001 and submits a Bank Guarantee which may not be valid upto 31.3.2002, such cases may also be considered for extension provided the Bank Gua ..... X X X X Extracts X X X X X X X X Extracts X X X X
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