With reference to Advance Authorisation Scheme, consider the following statements:1.The scheme allows duty-free import of inputs for export purposes.2.Directorate General of Foreign Trade (DGFT) is implementing the Advance Authorisation Scheme under the Foreign Trade Policy.Select the correct statements using the codes given below:

Q. With reference to Advance Authorisation Scheme, consider the following statements:
1.The scheme allows duty-free import of inputs for export purposes.
2.Directorate General of Foreign Trade (DGFT) is implementing the Advance Authorisation Scheme under the Foreign Trade Policy.
Select the correct statements using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C

Notes:

Explanation –

Statements 1 and 2 are correct. Advance Authorisation Scheme allows duty-free import of inputs for export purposes. DGFT is implementing the Advance Authorisation Scheme under the Foreign Trade Policy.

Source: ForumIAS

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