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Showing contexts for: intermediate component in United Phosphorus Ltd, vs Assessee on 13 April, 2012Matching Fragments
2. Advance License enables duty free import of inputs subject to actual user condition. The benefit receivable under the Advance License is subject to the fulfillment of a time bound export obligation. (refer Para 7.3).
Thus, the benefit is based on inputs and can be realized only when the inputs are actually imported. Under the DEPB scheme, an exporter is entitled to credit of custom duty paid which is a specified percentage of FOB value of exports. The credit is available after export of goods and on an application made with the competent authority. The actual import of inputs is not required. The credit is available for import of raw materials, intermediates, components, parts, packing material, etc.