Pre-Import Conditions for Advance Authorisation and the Supreme Court Verdict – All Explained
Description:
Advance Authorization Scheme is one of the incentive schemes provided by Indian Government thorough its government agency called DGFT – Director General of Foreign Trade.
Objective:
To increase the competitiveness of India’s exporters globally by offering incentives on procurement of raw materials and related incentives.
Benefit:
Under Advance authorization Scheme AAS, exporter can import raw-materials and related inputs under 100% duty exemption schemes. Advance Authorization are issued for raw materials and related inputs for manufacturing export items under Standard Input Output Norms (SION) set by the Government of India. However, these can also be issued on the basis of Adhoc norms or self declared norms in some situations as allowed.
Eligibility:
Advance Authorisation can be issued to a manufacturer/exporter/merchant exporter tied to supporting manufacturer(s) for: – Physical exports (including exports to SEZ) – Intermediate supplies – Supply of ‘stores’ on board of foreign going vessel / aircraft subject to condition that there is specific SION in respect of item(s) supplied
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Recent Posts
- Launch of the Revamped Preferential Certificate of Origin (eCoO) 2.0 System.
- Extension of Broken Rice Export to Senegal and Gambia through NCEL: What It Means for Traders.
- Extension of Deadline for Filing Quarterly and Annual Returns for EPR E-Waste
- Extension Announced for Filing Quarterly and Annual Returns under Waste Tyre EPR Rules.
- The CHIP Import Monitoring System (CHIMS) has been officially discontinued by the central government to streamline import processes.
- Minimum Export Price for Exporting Non-Basmati Rice has been lifted by the Central Government
- DGFT introduces new compliance requirement of submitting Annual Returns for RODTEP Scheme
- Import of Pocket Lighter Parts Now Restricted
FeATURED ARTICLES
Launch of the Revamped Preferential Certificate of Origin (eCoO) 2.0 System. The Directorate General of Foreign Trade (DGFT) has launched…
Extension of Broken Rice Export to Senegal and Gambia through NCEL: What It Means for Traders. The export of Broken…
The CHIP Import Monitoring System (CHIMS) has been officially discontinued by the central government to streamline import processes. Central Government…
Minimum Export Price for Exporting Non-Basmati Rice has been lifted by the Central Government The Central Government makes amendment in…
