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Customs - Highlights / Catch Notes

Home Highlights March 2017 Year 2017 This

Cancellation of Advance licence - fulfilment of export ...

Customs

March 6, 2017

Cancellation of Advance licence - fulfilment of export obligation - The RBI has clarified that the ‘transaction in question pertains to exports from India against liquidation of rupee balance of the erstwhile USSR.’ - The contention of the revenue that the EXIM Policy did not permit the discharge of export obligation in Indian Rupees, is untenable - HC

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