AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
The export obligation period for products incorporating imported flat rolled products of stainless steel under the Advance Authorisation scheme has been reduced from 18 months to 6 months from the date of clearance of import consignment. This reduced export turnaround period could reduce the incentive to import these raw materials for export production.
The Advance Authorisation allows duty free import of inputs for export goods production provided there is at least 15% value addition and the export obligation is fulfilled within 18 months, which has been reduced to 6 months in this case.
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