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of <h1>Finance Ministry Implements Advance Authorisation Scheme for Deemed Exports, Exempts Certain Materials from Customs Duties.</h1> The Ministry of Finance has issued Notification No. 22/2023-Customs, effective April 1, 2023, under the Foreign Trade Policy 2023, implementing the Advance Authorisation Scheme for deemed exports. This notification exempts materials needed for manufacturing final goods from customs duties when imported into India, subject to specific conditions. Importers must possess an Advance Authorisation, comply with export obligations, and adhere to procedures for clearance and usage of materials. The exemption does not apply to certain duties for materials related to specific final goods. The notification outlines definitions and conditions for compliance, including bonds and certifications required for duty exemptions.
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