Import license for eou
This query is : Resolved
06 December 2011
Plz tell me that is import license requires for import in Export Oriented Unit?
Thanx
Saurabh
(CA FINAL STUDENT)
Thanx
Saurabh
(CA FINAL STUDENT)
06 December 2011
* No import licences are required by the EOU units and import of all industrial inputs exempt from customs duty.
* Supplies from the DTA to EOUs are regarded as deemed exports and are hence exempt from payment of excise duty which means that high quality inputs are available at lower costs.
* On fulfillment of certain conditions, EOUs are exempted from payment of corporate income tax for a block of 5 years in the first 8 years of operation. Export earnings continue to be exempt from tax even after the tax holiday is over.
* Industrial plots and standard design factories are available to EOUs at concessional rates.
* Single window clearance for EOU. For example, the State Government of Kerala as well of Karnataka has constituted single window clearance mechanisms such as District Single Window Clearance Board (in Kerala) and Karnataka Udyog Mitra (in Karnataka) for the purpose of speedy issue of various licences, clearances.
* Private bonded warehouses in the 7 EPZs can be set up for
o Import and sale of goods including in the DTA, subject to payment of applicable duties at the time of sale.
o Trading including re-export after repacking/labeling.
o Re-export after repair, reconditioning or re-engineering
* EOUs and EPZs are permitted to sub-contract part of their production processes for job work to units in the DTA on a case by case basis.
* Supplies to the DTA under international competitive bidding against payment in foreign exchange to other EOUs and EPZ units and against import licenses are considered towards fulfilment at the export obligation.
* The FOB value of exports of EOUs and EPZ units can be clubbed with that of parent companies located in the DTA for the purpose of obtaining a Trading or Export House status.
* EOUs and EPZ units may export goods through Trading and Export Houses or other EOU and EPZ Units.
* Supplies from the DTA to EOUs are regarded as deemed exports and are hence exempt from payment of excise duty which means that high quality inputs are available at lower costs.
* On fulfillment of certain conditions, EOUs are exempted from payment of corporate income tax for a block of 5 years in the first 8 years of operation. Export earnings continue to be exempt from tax even after the tax holiday is over.
* Industrial plots and standard design factories are available to EOUs at concessional rates.
* Single window clearance for EOU. For example, the State Government of Kerala as well of Karnataka has constituted single window clearance mechanisms such as District Single Window Clearance Board (in Kerala) and Karnataka Udyog Mitra (in Karnataka) for the purpose of speedy issue of various licences, clearances.
* Private bonded warehouses in the 7 EPZs can be set up for
o Import and sale of goods including in the DTA, subject to payment of applicable duties at the time of sale.
o Trading including re-export after repacking/labeling.
o Re-export after repair, reconditioning or re-engineering
* EOUs and EPZs are permitted to sub-contract part of their production processes for job work to units in the DTA on a case by case basis.
* Supplies to the DTA under international competitive bidding against payment in foreign exchange to other EOUs and EPZ units and against import licenses are considered towards fulfilment at the export obligation.
* The FOB value of exports of EOUs and EPZ units can be clubbed with that of parent companies located in the DTA for the purpose of obtaining a Trading or Export House status.
* EOUs and EPZ units may export goods through Trading and Export Houses or other EOU and EPZ Units.
06 December 2011
ALSO READ:
http://commerce.nic.in/annual2006-07/html/chapter6.html
http://commerce.nic.in/annual2006-07/html/chapter6.html
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