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of <h1>Annual Advance Licence Scheme: Exporters can import duty-free up to 125% of average exports with compliance requirements.</h1> The Annual Advance Licence (AAL) Scheme, effective from July 1, 1999, is detailed in the Exim Policy 1997-2002. Eligible exporters include manufacturer exporters with a prior year's export performance of Rs.1 crore and registered Export Houses. Entitlements allow for AAL issuance up to 125% of the average FOB value of exports from the preceding three years, with specific import and export conditions. Imports under AAL are exempt from various duties, and no drawback is allowed unless indigenous inputs are used. The licence is valid for 12 months for imports and 18 months for exports, with specific documentation and compliance requirements.
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