State salient aspects of Advance authorisation for annual requirements to exporters.

Annual Advance authorisation would be issued to exporters having past export performance in at least preceding two financial years, to enable them to import the inputs required by them on annual basis. Advance authorization for annual requirement shall only be issued for items, notified in SION and not on basis of ad hoc norms under self-declared authorisations where SION does not exist. Annual Advance Authorisation in terms of CIF value of imports will be granted upto 300% of FOB value of physical exports in preceding financial year and/or FOR value of deemed exports in preceding year or 1crore, whichever is higher.