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Importer Exporter Code is an essential element for import-export business in India. It provides an exemption from taxes. No trade can be initiated without it.
Pre-import condition is used to refer to a situation where any product that is imported via the Advance Authorisation Scheme is used in the production of final goods that are to be provided to the importers.
The Amnesty Scheme for one-time settlement of default in export obligation (EO) for Advance Authorization license holders and EPCG license holders have been introduced in the new FTP 2023.
