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Advance Authorization SCHEME under (FTP)

Redemption of Advance Authorization under the Foreign Trade Policy (FTP) signifies the successful fulfillment of export obligations and closure of the license through the issuance of the Export Obligation Discharge Certificate (EODC) by DGFT. Timely redemption ensures compliance, avoids penalties, and maintains export credibility. SKMC Global helps businesses with complete documentation, tracking export obligations, coordinating with DGFT, and ensuring smooth EODC issuanceu2014saving time and preventing regulatory hassles.

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Advance Authorization SCHEME under (FTP)

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  1. ADVANCE AUTHORIZATION SCHEME UNDER (FTP) The Advance Authorization Scheme allows exporters to import raw materials duty- free for export production, reducing costs and boosting global competitiveness. Redemption through the Export Obligation Discharge Certificate (EODC) confirms compliance and closes the license. Timely guidance from experts like SKMC Global ensures smooth operations, proper documentation, and penalty-free compliance. BENEFITS OF ADVANCE AUTHORIZATION SCHEME UNDER FTP Duty Exemption- Inputs imported under the scheme are exempt from Basic Customs Duty, IGST, Anti-Dumping Duty, Safeguard Duty, and Compensation Cess. Cost Flexibility- Exporters can source inputs globally without the burden of paying advance import duties. Liquidity & Working Capital Efficiency- Duty-free imports reduce cash outflow and enhance working capital management. CHALLENGES IN ADVANCE AUTHORIZATION SCHEME UNDER FTP Incorrect Shipping Bill Details: Errors in scheme codes or license numbers can lead to processing delays. Export Obligation Not Met on Time: Failure to fulfill export commitments within the prescribed period can affect redemption. Bank Realisation Certificate (BRC) Issues: Delays or discrepancies in e-BRC submission by banks may hinder verification. Wrong Norms Application: Incorrect use of SION norms or self-declaration may result in application rejection. DGFT Portal Technical Errors: System glitches or technical issues on the DGFT portal can slow down online submissions. At SKMC Global assists businesses in seamless redemption of Advance Authorizations by managing documentation, export obligation tracking, and EODC application with DGFT. Their expert guidance ensures timely compliance, avoiding penalties and delays under the Foreign Trade Policy. +91 989-125-5499 info@skmcglobal.com www.skmcglobal.com

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