DGFT acquires power to exclude any products

By Vijay Kumar

By amending Policy Paragraph 4.1.3 the DGFT has armed itself with the power to exclude any product or products from the ambit of advance licence. Certain duty-free import of spares upto 10% of the CIF value has also been allowed under the advance licence.In fact, a sub-contractor can also avail the facility of this licence provided he fulfills certain conditions for certain types of goods.

See Notification 5 (RE-2005)/2004-2009, Dated : May 31, 2005