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Industrial Advance License Scheme

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Industrial Advance License Scheme

Name: Industrial Advance License Scheme
Brand: WELCOME CONSULTANCY
Price: 25000 INR
Availability: InStock

Price 25000 INR/ Number

Get a Price/Quote

MOQ : 1 Number

Industrial Advance License Scheme Specification

Service Mode
Online/Offline

Validity of License
Valid for 12 months from the date of issue or as specified by DGFT

Purpose
To facilitate the import of raw materials and components for manufacturing export products without payment of customs duty

Transferability
License is transferable as per norms under Advance Authorization Scheme

Type
Industrial Advance License Scheme

Renewal/Extension Policy
Extension possible subject to DGFT approval and submission of required documents

Processing Time
Typically 2-4 weeks depending on document completeness

Usage
Import License for Duty-Free Import of Inputs for Export Production

Redemption/Closure
Subject to fulfillment of export obligation and submission of export documents for verification to DGFT

Compliance Requirement
Maintenance of records and submission of statements as prescribed by DGFT

Bonds and Undertaking
Execution of Bond/Undertaking required for utilization and fulfillment of export obligations

Application Procedure
Submission through DGFT portal/physical submission as per guidelines

Eligibility
Exporters (Manufacturer Exporters/ Merchant Exporters linked with supporting manufacturers)

Scheme Benefits
Allows duty exemption on import of inputs required for export production, reduces production cost and increases global competitiveness for exporters

Applicable Sectors
All manufacturing sectors involved in export

Documentation
Application form, IEC, Manufacturing process flow chart, Export Order Copy, Technical details of products, input-output norms, past export performance

Support/Consultancy
Professional assistance available for documentation, application filing, and post-license compliance

Governing Authority
Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, Government of India

Export Obligation
Export of finished goods as per quantity/value specified in license within prescribed period

About Industrial Advance License Scheme

The Industrial Advance License Scheme is a type of government initiative that allows exporters for importing capital goods at zero or concessional customs duty rates for the production and export. Under the this kind of scheme, exporters can leverage benefits like reduced customs duties on imported machinery and raw materials, quicker clearance of imported goods, and varied other tax incentives. The scheme service providers help exporters in obtaining the benefits by offering guidance on the application process, eligibility criteria, and documentation needed for obtaining the scheme. Also the services assist exporters improve their import and export operations to take advantage of the benefits of the Industrial Advance License Scheme.

Accelerate Export Production with Duty-Free Imports

The Industrial Advance License Scheme empowers exporters to import necessary raw materials and components without incurring customs duties, helping to lower production costs and enhance global competitiveness. Open to all manufacturing sectors engaged in export, the scheme ensures you can source essential inputs efficiently for timely order fulfillment.

Streamlined Application and Compliance Process

Applying for the Advance License is convenient via the DGFT portal or physical submission, depending on guidelines. Applicants must provide the required documentation-including export orders and process details-while maintaining records and periodic reports as prescribed by the DGFT, ensuring an efficient workflow.

Comprehensive Support and Flexibility for Exporters

Professional consultancy services are available to guide exporters through documentation, application submission, and post-approval compliance. The license offers flexibility with provisions for extension, transferability under norms, and ensures easy closure upon satisfying export obligations and verification of export documents.

FAQ's of Industrial Advance License Scheme:

Q: What is the main benefit of the Industrial Advance License Scheme for exporters?

A: The primary advantage of this scheme is the exemption from customs duty on imported inputs used in manufacturing export goods, resulting in lower production costs and increased competitiveness in international markets.

Q: How can an eligible exporter apply for the Advance License?

A: Exporters can apply for the Industrial Advance License online via the DGFT portal or through physical submission, as specified by the DGFT. Proper documentation, including export orders and process flowcharts, is required during the application.

Q: Who is eligible to utilize the Industrial Advance License Scheme?

A: Eligible applicants include manufacturer exporters and merchant exporters linked with supporting manufacturers across all export-oriented manufacturing sectors.

Q: What is the validity period of the Advance License and is renewal possible?

A: The license is typically valid for 12 months from the date of issuance or as specified by the DGFT. Extensions are available, subject to DGFT approval and submission of all necessary documents.

Q: What are the compliance requirements under this scheme?

A: Exporters must maintain thorough records, submit periodic statements, and ensure utilization of imported goods strictly for export production. Fulfillment of export obligations and submission of supporting export documents to the DGFT are mandatory for license closure.