ANNOUNCED AS TEMPORARYNo
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 tighter export turnaround period is likely to negatively affect the imports of these steel raw materials.
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 amended as 6 months in this case.
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