BWI: TEXPROCIL Seeks Simplification of Advance Authorization Scheme at “Make In India” Workshop

Source : TEXPROCIL Wednesday, January 14, 2015 3:55PM IST (10:25AM GMT)   TEXPROCIL Seeks Simplification of Advance Authorization Scheme at "Make In India" Workshop   Mumbai, Maharashtra, India At the workshop on the Government's 'Make in India' programme held in New Delhi on December 29, 2014 , The Cotton Textiles Export Promotion Council ( TEXPROCIL) suggested ways to simplify the Advance Authorization Scheme .  The Advance Licensing  Scheme ( Advance Authorization Scheme) is a duty exemption scheme which was introduced in 1976 with the objective of providing exporters with basic inputs at international prices.  The Scheme allows duty free import of inputs required for export production.    “The continuation of the Advance Authorization Scheme in the forthcoming Foreign Trade Policy 2014-19  would be crucial  to encourage “ Make in India” initiative” , said Shri R.K.Dalmia ,Chairman , TEXPROCIL. However, Shri  Dalmia pointed out that there is a need to simplify the scheme to make it more exporter friendly and less cumbersome . Currently, exporters operating under the scheme face problems on account of Redemption of Advance Authorization, Proving the nexus between export product and imported  item and in achieving the value addition of 15% . The Council has suggested that CBEC should issue a Circular instructing  the Customs to strictly adhere to the time frame of 30 days as stipulated in the Foreign Trade Policy for the cancellation of BG/LUT . Further the Council has  suggested that Customs should normally cancel/ redeem BG/LUT on the basis of EODC  ( Export Obligation Discharge Certificate ) issued by the Regional offices of DGFT and the  verification procedure of the Customs , if required  , should be restricted only to confirm whether the Shipping bills are genuine instead of re-opening the entire details of the shipment which have taken place many months back.  With regard to the value addition norm of 15% , the Council has suggested that it  should  be reduced to 5%  as the current Value Addition of 15% discourages exporters to operate under the Scheme.     If these issues are addressed and resolved , the Advance Authorization Scheme will go a long way in achieving the goal of “Ease of Doing Business” & “Simplification of Procedures”  and make raw-materials available for manufacturing thereby supporting the “Make in India” programme without any revenue implication, according to Shri Dalmia .  Photo Caption: Mr.R.K.Dalmia - Chairman -TXPROCIL     Media Contact Details Nirmal Phophalia, newsmenPR, ,+91-9870003933 , newsmenpr@gmail.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Business Services, Clothing & Accessories, Commodities & Materials, Events & Conferences, Major diversified industrial groups, Manufacturing Companies;General:Consumer interest   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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