Eou exemption
This query is : Resolved
25 October 2013
X ltd has identified a plot of barren land in India for constructing a Laboratory with an intention to export 100% of its research services and thus avail an EOU Status. For the purpose of construction of research lab, X ltd will import capital goods (which includes electrical items, HVAC and other capital items). X ltd will place the import order for purchase of these capital items immediately with construction in progress. Can X ltd avail EOU benefits for the purchase of these capital goods? What documentary procedure will it require to follow?
09 November 2013
after approval and got the LOP is admissible.
Application & Approvals 6.7
(a) Applications for setting up of units under EOU scheme other than proposals for setting up of units in the services sector (except R&D , software and IT enabled services, or any other service activity as may be delegated by the BOA), shall be approved or rejected by the Units Approval Committee within 15 days as per the criteria indicated in Handbook (Vol-I).
(b) In other cases, approval may be granted by the Board of Approval (BOA) set up for this purpose as indicated in the Handbook (Vol-I) (c) Proposals for setting up EOU requiring industrial licence may be granted approval by the Development Commissioner after clearance of the proposal by the Board of Approval and Department of Industrial Policy and Promotion within 45 days.
more info:
https://www.csez.com/eou/html/e1000frm.htm
Application & Approvals 6.7
(a) Applications for setting up of units under EOU scheme other than proposals for setting up of units in the services sector (except R&D , software and IT enabled services, or any other service activity as may be delegated by the BOA), shall be approved or rejected by the Units Approval Committee within 15 days as per the criteria indicated in Handbook (Vol-I).
(b) In other cases, approval may be granted by the Board of Approval (BOA) set up for this purpose as indicated in the Handbook (Vol-I) (c) Proposals for setting up EOU requiring industrial licence may be granted approval by the Development Commissioner after clearance of the proposal by the Board of Approval and Department of Industrial Policy and Promotion within 45 days.
more info:
https://www.csez.com/eou/html/e1000frm.htm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
