General Knowledge · General Awareness
Regarding the Advance Authorization scheme under the Foreign Trade Policy, consider the following statements: Statement I: Advance Authorization requires a minimum Value Addition of 15 percent, calculated based on the FOB value of exports and the CIF value of imported inputs. Statement II: The authorization is valid for 12 months for making imports, and the Export Obligation (EO) must be fulfilled within 18 months from the date of issue. Statement III: An exporter can procure inputs domestically through 'Invalidation of Advance Authorization', and domestic suppliers are eligible for Deemed Export benefits. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III✓
- 2Only II and III
- 3Only I and II
- 4Only I
Correct answer
I, II and III
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