India Changes Advance Authorization Revalidation to One Revalidation for 12-Month Period
Importers in India may revalidate their Advance Authorisations only once for a period of 12 months from the authorizations' expiry date issued on or after Aug. 15, India's Directorate General of Foreign Trade said in a July 22 notice. The…
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Advance Authorisations Scheme allows the import of inputs to be conducted duty-free if they are physically incorporated in a product designated for export, the DGFT's website said. The update changes the revalidation procedures from two revalidations of six months each to one revalidation of 12 months. The July notice also allowed submissions for the authorizations to be made online.