Dgft Notifies Amended Rules For Calculation Of Composition Fee For Extending Export Obligation Under Advance Authorization Scheme (AAS).

January 20, 2023

Directorate General of Foreign Trade has notified amended rules for extending Export Obligation under AAS.
Move will help automate entire Export Obligation extension process with minimal human intervention and lead to ease of doing business.
AAS is a duty exemption scheme issued by Government of India under Foreign Trade Policy 2015-2020 under the purview of DGFT, Ministry of Commerce and Industry.
It exempts payment of import duties on raw materials/inputs required for manufacturing products for export.
It allows duty free import of inputs, which are physically incorporated in an export product.
It additionally allows packaging material, fuel, oil, catalyst which is consumed / utilized in production of export product.