Latest news with #AdvanceAuthorisation
Fibre2Fashion
6 days ago
- Business
- Fibre2Fashion
India extends export obligation for QCO-free VSF imports to 18 months
India has extended the export obligation period for imports of viscose staple fibre (VSF) exempted from the Quality Control Order (QCO) to 18 months, following consistent demands from the textile industry. The move is expected to ease the burden on exporters who import QCO-exempted VSF and are required to re-export the same. The Confederation of Indian Textile Industry (CITI) has welcomed the decision. According to industry sources, the government has allowed Export Oriented Units (EOUs), Special Economic Zone (SEZ) units, and Advance Authorisation holders to import VSF without adhering to the QCO under pre-import conditions. Under the Advance Authorisation scheme, exporters are typically granted 18 months to re-export duty-free imported raw materials. While this timeline was initially applied to QCO-exempted imports as well, it was later shortened to 180 days. India has extended the export obligation period for QCO-exempt viscose staple fibre (VSF) imports to 18 months, restoring the original timeline after industry appeals. This move benefits EOUs, SEZs and Advance Authorisation holders by easing pressure on re-export requirements. CITI welcomed the decision, citing it as a significant relief for exporters and a step towards smoother QCO implementation. Exporters had urged the government to restore the original 18-month period. Responding to the appeal, the government has now agreed to reinstate the extended timeline. 'We are delighted that our request for a relaxation in the export obligation period has been accepted by the authorities,' CITI chairman Rakesh Mehra said. 'The step will prove immensely beneficial for companies as they will now get more time to discharge their export obligations.' He pointed out that CITI has been working closely with the authorities on the issue of quality control orders (QCOs) to ensure their effective implementation. Fibre2Fashion News Desk (KUL)
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Business Standard
29-05-2025
- Business
- Business Standard
Govt set to relax rules under Advance Authorisation scheme for exporters
Exporters may no longer be denied duty-free import benefits under the Advance Authorisation (AA) scheme simply because their goods were shipped before the licence was issued, according to sources familiar with the matter. The Advance Authorisation scheme allows exporters to import inputs—such as raw materials, components or chemicals—without paying customs duty, on the condition that these will be used to manufacture products for export. The scheme is a key tool to make Indian exports competitive by reducing input costs. 'Even if goods have already been shipped or have arrived in India, they can still be cleared under an Advance Authorisation granted later by DGFT—provided the importer files the Bill of Entry after the licence date. However, this relaxation won't apply to restricted goods or products that can only be imported through designated government agencies, unless DGFT gives special permission,' a senior government official said, requesting anonymity. Until recently, as per sources, field formations of customs, particularly following objections raised by the Directorate of Revenue Intelligence (DRI) in Ludhiana, had taken a strict view that if the shipment left the foreign port before the date on which the AA licence was granted, the benefit of duty exemption should not be available—even if the goods were cleared through customs later. However, after several industry bodies flagged concerns over unnecessary disputes and procedural delays, the authorities have decided that the relevant date for eligibility under the AA scheme is the date of filing the Bill of Entry—this is a legal customs document submitted to Indian Customs to get the goods cleared—that is, when the goods are cleared through Indian customs, not the date of shipment from the foreign country, another official added. An email sent to the Directorate General of Foreign Trade (DGFT), which administers the AA scheme, and the Central Board of Indirect Taxes and Customs (CBIC), remained unanswered till the publishing of this article.
Business Standard
28-05-2025
- Business
- Business Standard
Restoration of RoDTEP Scheme for AA, SEZ, and EOU Exports ensures that key contributors to exports are not excluded from critical incentives
Associated Chambers of Commerce and Industry of India (ASSOCHAM) has commended the Government of India for restoring the benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exports from Advance Authorisation (AA) holders, Export-Oriented Units (EOUs) and Special Economic Zones (SEZs), effective June 1, 2025. The restoration ensures that key contributors to Indias exports are not excluded from critical incentives, especially at a time when global competitiveness and domestic industrial resilience are of utmost importance. ASSOCHAM has consistently advocated for the extension of RoDTEP to all exporting entities, including those operating in SEZs and under AA and EOU frameworks. This move will correct the gap that created cost disadvantages for such units and is aligned with Indias WTO commitments, noted Manish Singhal, Secretary General, ASSOCHAM.
Fibre2Fashion
27-05-2025
- Business
- Fibre2Fashion
India to restore RoDTEP benefits for AA, EOU & SEZ exports from June 1
Government of India has reinstated Remission of Duties and Taxes on Exported Products (RoDTEP) scheme benefits for Advance Authorisation (AA) holders, Export-Oriented Units (EOUs), and Special Economic Zone (SEZ) units. Applicable from June 1, 2025, the move aims to strengthen India's export competitiveness and ensure parity across all exporter categories. These benefits had earlier lapsed on February 5, 2025. Their restoration signals the government's ongoing commitment to boosting merchandise exports by offsetting unrefunded embedded duties and taxes. Since its launch on January 1, 2021, the WTO-compliant scheme has disbursed over ₹57,976.78 crore (~$6.8 billion), the Ministry of Commerce & Industry said in a press release. Indian government has reinstated RoDTEP benefits for AA holders, EOUs and SEZ units from June 1. The move aims to enhance export competitiveness and ensure parity across exporter categories. Earlier withdrawn in February 2025, the scheme has disbursed over ₹57,976.78 crore (~$6.8 billion) since 2021. For FY26, ₹18,233 crore is allocated to support a wide range of HS lines via a digital platform. For FY26, ₹18,233 crore has been earmarked to support exports under 10,780 HS lines for Domestic Tariff Area and 10,795 HS lines for AA/EOU/SEZ segments. The scheme is operated through a fully digital platform to ensure transparency and ease of access for exporters. Fibre2Fashion News Desk (KD)
Time of India
27-05-2025
- Business
- Time of India
GTRI backs RoDTEP reinstatement, urges five-year stability to boost exports
Representative image The Global Trade Research Initiative (GTRI) has welcomed the reinstatement of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme but stressed on the need for a stable, five-year implementation period to bolster India's export competitiveness. 'To position India as a stable and competitive export hub, the government must ensure uninterrupted RoDTEP coverage for at least five years. Frequent policy shifts hurt credibility, weaken trust, and ultimately damage India's export competitiveness,' GTRI said. Although the RoDTEP scheme complies with World Trade Organisation (WTO) norms, GTRI expressed concern over the government's inconsistent handling of the policy. The scheme reimburses exporters for embedded duties, taxes, and levies not covered under other incentive programs. RoDTEP benefits for certain categories were discontinued on February 5, 2025. However, the recent decision to reinstate them aims to ensure a level playing field for exporters across sectors. The Ministry of Commerce and Industry noted that this move reflects the government's ongoing efforts to enhance India's position in global markets. Since its inception, the RoDTEP scheme has seen disbursements exceeding Rs. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 입꼬리 올리는 여름, 인천에서 33만원 임플란트 만나보세요 플란치과 더 알아보기 Undo 57,976.78 crore as of March 31. For the fiscal year 2025–26, the government has allocated Rs. 18,233 crore to support 10,780 HS lines under Domestic Tariff Area exports and 10,795 HS lines under Advance Authorisation (AA), Export Oriented Units (EOUs), and Special Economic Zones (SEZs), ensuring broad sectoral coverage. Additionally, the government has launched the Trade Connect e-Platform, aimed at streamlining international trade by connecting Indian Missions abroad with Department of Commerce officials and relevant organisations to offer comprehensive export-related services. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
