Bond Cancellation of Advance Licence

The Advance Licence is issued to Manufacturer to import capital goods with 0% duty, but with conditions to fullfill the export obligation equivalent to 2 (Two years) of duty saved of imports made within validity period,  licence validity is 2 (Two) years to complete Import as well as Export Obligation.

While Import is made under this Advance Licence, the license holder (Manufacturer) has to execute the Bond with Custom authorities under Notification no.96/2009 Dt.11/9/2009 specifying the liability of duty saved amount and fullfilment of export obligation within stipulated time period failing which the duty liability will be liable for recovery.

This executed Bond has to be got cancelled with customs authorities after  producing the Export Obligation  Discharge Certificate (EODC) issued by the licensing authorities.

The customs bond will remain active untill the EODC is not produced before them. The recovery process by customs will start  on completion of licence validity.

Testimonials

Dear Mr. Mali,
This is to inform you that one shipment which landed in India today afternoon at 2.07 PM, got cleared from customs by your team at 5.50 PM.

We appreciate the efforts put in and great co-ordination by your import team – Mr. Sanjay/Mr. Shailendra/Ms Vrushali to clear the shipment with… Read more
Fronius India Pvt. Ltd.XX-XX-XXXX
Dear Mr. Santosh Rane
Greetings from Fronius India!
We are glad to inform you that we have successfully concluded the Year 2016 by achieving our Budget. When we look back, it brings in lot of smile & sense of Pride! J . I take this opportunity to thank you for all the smart work and dedication… Read more
Fronius India Private LimitedXX-XX-XXXX

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