Duty Free Import of spices only for value addition - minimum value addition to be 15%
DGFT has amended the Policy and the Handbook Of Procedure to prescribe that for Advance Licence
++ duty free import of spices ( covered by chapter 9 of the ITC (HS) Classifications of Export & Import Items, 2004-09 for export under advance licence scheme shall be permitted only for value addition purposes like crushing/grounding/sterilization or for manufacture of oils and oleoresins and not for simple cleaning, grading, re-packing etc,.
++ the export obligation shall be fulfilled within a period of 90 days from the date of receipt of the first import consignment i.e. the date on which the first import consignment is cleared by the customs authorities against the licence;
++ A minimum value addition of 15% shall have to be fulfilled;
DGFT NOTIFICATION NO. 41(RE-2005)/2004-2009, Dated: January 23, 2006 and PUBLIC NOTICE NO. 84 /(RE-2005)/2004-2009, Dated: January 23, 2006