4.84 — Exports against Advance Authorisation

• (a) Procedure applicable to Advance Authorisations under Chapter 4 of Handbook of Procedures shall generally apply to this scheme except norms for value addition, Export Obligation period and regularization of default. Value addition for Gems and Jewellery items shall be as per paragraph 4.60 of this Handbook of Procedures.

• (b) Export Obligation will be required to be fulfilled within 120 days from date of import of each consignment against Authorisation. However, Export Obligation period shall be 180 days from date of import of findings, mountings made of gold, platinum and silver and export of jewellery. No further extension in Export Obligation period will be allowed. Advance Authorisation holder may also import gold as replenishment after completion of exports.

• (c) Advance Authorisation holder may obtain gold /silver / platinum from nominated agencies in lieu of direct imports. In such a case, Export Obligation will be required to be fulfilled within 90 days from date of supply of Gold/Silver/Platinum by nominated agency and the nominated agency shall also make, both exchange control copy and customs purpose copy of Authorisation invalid for direct imports.