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(THE GIST OF PIB) Advance Authorisation Scheme
(THE GIST OF PIB) Advance Authorisation Scheme
(July-2023)
Advance Authorisation Scheme
- Recently, the Directorate General of Foreign Trade (DGFT) implemented the Advance Authorisation Scheme under the Foreign Trade Policy, which allows duty-free import of inputs for export purposes.
About Advance Authorisation Scheme:
- It allows duty free import of inputs, which are physically incorporated in an export product. In addition to any inputs, packaging material, fuel, oil, catalyst which is consumed / utilized in the process of production of export product, is also be allowed.
- They are not allowed to sell the products in the domestic market.
- The Advance Authorization is valid for 12 months from the date of issue of such Authorization.
Eligibility:
- This scheme is available to either a manufacturer exporter directly or a merchant exporter tied with a supporting manufacturer.
- It includes physical exports, intermediate supply, supplies made to specified categories of deemed exports.
- Duties exempt: The inputs imported are exempt from duties like Basic Customs Duty, Additional Customs Duty, Education Cess, Anti-dumping duty, Safeguard Duty and Transition Product-Specific Safeguard duty, Integrated tax, and Compensation Cess, wherever applicable, subject to certain conditions.
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Courtesy: PIB