EOU/FTP
This query is : Resolved
24 April 2010
Can you explain me about EOU and FTP
24 April 2010
Introduction
The Export Oriented Units (EOUs) scheme, introduced in early 1981, is complementary to the SEZ scheme. It adopts the same production regime but offers a wide option in locations with reference to factors like source of raw materials, ports of export, hinterland facilities, availability of technological skills, existence of an industrial base and the need for a larger area of land for the project. As on 31st December 2005, 1924 units are in operation under the EOU scheme.
Objectives of the Export oriented unit:
The main objectives of the EOU scheme is to increase exports, earn foreign exchange to the country, transfer of latest technologies stimulate direct foreign investment and to generate additional employment.
Major Sectors in EOUs:
* GRANITE
* TEXTILES / GARMENTS
* FOOD PROCESSING
* CHEMICALS
* COMPUTER SOFTWARE
* COFFEE
* PHARMACEUTICALS
* GEM & JEWELLERY
* ENGINEERING GOODS
* ELECTRICAL & ELECTRONICS
* AQUA & PEARL CULTURE
Export from EOU
Exports from EOUs during 2004-2005 were of the order of Rs.36806.17 crores as compared to the export of Rs.28827.58 crores achieved during 2003-2004, registering a growth of 27.68%.
EOU Activities
Initially, EOUs were mainly concentrated in Textiles and Yarn, Food Processing, Electronics, Chemicals, Plastics, Granites and Minerals/Ores. But now a day, EOU has extended it area of work which includes functions like manufacturing, servicing, development of software, trading, repair, remaking, reconditioning, re-engineering including making of gold/silver/platinum jewellery and articles thereof, agriculture including agro-processing, aquaculture, animal husbandry, bio-technology, floriculture, horticulture, pisiculture, viticulture, poultry, sericulture and granites.
Need for Special License
To set up an EOU for the following sectors, an EOU owner needs a special license.
* Arms and ammunition,
* Explosives and allied items of defense equipment,
* Defense aircraft and warships,
* Atomic substances,
* Narcotics and psychotropic substances and hazardous chemicals,
* Distillation and brewing of alcoholic drinks,
* Cigarettes/cigars and manufactured tobacco substitutes.
The Export Oriented Units (EOUs) scheme, introduced in early 1981, is complementary to the SEZ scheme. It adopts the same production regime but offers a wide option in locations with reference to factors like source of raw materials, ports of export, hinterland facilities, availability of technological skills, existence of an industrial base and the need for a larger area of land for the project. As on 31st December 2005, 1924 units are in operation under the EOU scheme.
Objectives of the Export oriented unit:
The main objectives of the EOU scheme is to increase exports, earn foreign exchange to the country, transfer of latest technologies stimulate direct foreign investment and to generate additional employment.
Major Sectors in EOUs:
* GRANITE
* TEXTILES / GARMENTS
* FOOD PROCESSING
* CHEMICALS
* COMPUTER SOFTWARE
* COFFEE
* PHARMACEUTICALS
* GEM & JEWELLERY
* ENGINEERING GOODS
* ELECTRICAL & ELECTRONICS
* AQUA & PEARL CULTURE
Export from EOU
Exports from EOUs during 2004-2005 were of the order of Rs.36806.17 crores as compared to the export of Rs.28827.58 crores achieved during 2003-2004, registering a growth of 27.68%.
EOU Activities
Initially, EOUs were mainly concentrated in Textiles and Yarn, Food Processing, Electronics, Chemicals, Plastics, Granites and Minerals/Ores. But now a day, EOU has extended it area of work which includes functions like manufacturing, servicing, development of software, trading, repair, remaking, reconditioning, re-engineering including making of gold/silver/platinum jewellery and articles thereof, agriculture including agro-processing, aquaculture, animal husbandry, bio-technology, floriculture, horticulture, pisiculture, viticulture, poultry, sericulture and granites.
Need for Special License
To set up an EOU for the following sectors, an EOU owner needs a special license.
* Arms and ammunition,
* Explosives and allied items of defense equipment,
* Defense aircraft and warships,
* Atomic substances,
* Narcotics and psychotropic substances and hazardous chemicals,
* Distillation and brewing of alcoholic drinks,
* Cigarettes/cigars and manufactured tobacco substitutes.
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
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- RATE AND HSN CODE
- TDS AND ITR ISSUE
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
