ADVANCE AUTHORIZATION FOR ANNUAL REQUIREMENT

ADVANCE AUTHORIZATION FOR ANNUAL REQUIREMENT

DEFINITION

A Status certificate holder and all other categories of exporters who have past export performance, in the preceding two years are entitled for advance authorisation for annual requirement. This gives an exporter the flexibility to export any product which falls under an export product group throughout the year, by using the duty exempted imports. However, specific inputs have to always be tallied with the resultant exports, as per Standard Input Output Norms (SION) prescribed ad hoc norms.