What Are the Financial Benefits of the Advance Authorization Scheme
23/09/2024 Other Services
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Description
The Advance Authorization Scheme is a trade facilitation measure that grants duty-free import of inputs required for the manufacture of export products. This scheme significantly reduces the burden of customs duties and provides a competitive edge to exporters. By eliminating the need for pre-deposit of customs duties, exporters can enjoy improved cash flow and optimize working capital. Moreover, the scheme promotes efficient supply chain management and reduces the overall cost of production. As a result, exporters can offer their products at more competitive prices in the global market, leading to increased exports and economic growth.
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