Bull Machines Store Keeper Interview Questions and Answers

The validity of advance licenses varies depending on the type and purpose of the license.

• Advance licenses are issued by customs authorities to allow importers to import goods duty-free or at a reduced rate.

• The validity period of advance licenses can range from 6 months to 3 years.

• The validity may also depend on the specific conditions or restrictions mentioned in the license.

• For example, an advance license for export p...read more

Advance & DFIA licenses provide benefits such as duty exemption and faster clearance for import and export of goods.

• Advance License allows duty-free import of inputs required for export production.

• DFIA License allows duty-free import of inputs required for export production and also allows duty-free import of goods for export.

• Both licenses provide faster clearance for import and export of goods.

• They also provide benefi...read more

Documents required for redemption of advance licence

• Original copy of the Advance Licence

• Export Obligation Discharge Certificate (EODC)

• Bank Realisation Certificate (BRC)

• Invoice and packing list

• Shipping bill and Bill of Lading/Airway Bill

• Insurance certificate

• Import Export Code (IEC) certificate

• Letter of Undertaking (LUT) or Bond

The validity of EPCG license for export is determined by the government and varies based on the type of product being exported.

• The validity of EPCG license is determined by the government.

• The validity period varies based on the type of product being exported.

• The license can be valid for up to 24 months.

• The license can be extended for up to 12 months.

• The license can be revalidated for up to 6 months.

• The validity period

Material inward and outward refers to the process of receiving and issuing goods in a store.

• Inward material refers to the process of receiving goods into the store from suppliers or other sources.

• Outward material refers to the process of issuing goods from the store to customers or other departments within the organization.

• Both inward and outward material require proper documentation and record-keeping to ensure accura...read more