Export oriented unit scheme

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Export oriented unit scheme

Sectoral norms, as notified by the Government, applies to foreign investment in services. The cases not covered by automatic route to be considered and approved by the BOA. Units in SEZs are permitted to issue equity shares to non-residents against import of capital goods subject to valuation done by a Committee consisting of Development Commissioner and appropriate Customs officials.

The period of realisation and repatriation of export proceeds shall be nine months from the date of export for SEZ units. SEZ Units are permitted to undertake job work abroad and export goods from that country itself subject to the conditions that: The exporter has made satisfactory arrangements for realization of full export proceeds subject to the usual EDF procedure.

Export oriented unit scheme

Enhanced limit of Rs 24, Indian Rupees Twenty-four million per annum allowed as managerial remuneration under the Companies Act, To abide by local laws, rules, regulations or bye-laws with regard to the area planning, sewerage disposal, pollution control and the like.

To comply with Industrial and Labour Laws, as are applicable locally.

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It may be noted that the labour laws will apply to all the units inside the SEZs. Conclusion The SEZ scheme has generated tremendous response amongst investors, both in India and abroad.

The facts suggest that the SEZ scheme has generated a large flow of foreign and domestic investment in the development of SEZs. Establishment of units and their performance is monitored by the jurisdictional Development Commissioner under the Foreign Trade Policy provisions.

The purpose of the scheme was to boost exports by creating additional production capacity. Under this scheme, units undertaking to export their entire production of goods are allowed to be set up as an EOU.

However, permissions required for import under other laws shall be applicable. A minimum investment of Rs 10 million in plant and machinery is required before commencement of commercial production in an EOU.

EOUs may import, without payment of duty, all types of goods, including capital goods, as defined in the Policy, required by it for its activities or in connection therewith, provided they are not prohibited items of imports in the ITC HS.

The units are also permitted to import goods required for the approved activity, including capital goods, free of cost or on loan from clients.

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EOU units are exempted from central excise duty in procurement of goods manufactured in India, procured from DTA and from customs duty on import of capital goods, raw materials, consumables, spares, etc. Such units are further entitled to reimbursement of CST paid on purchases.EXPORT ORIENTED UNITS (EOUs), ELECTRONICS HARDWARE Applications for setting up of units under EOU scheme other than proposals for setting up of unit in the service 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.

Upon executing the legal agreement, the unit attains the status of % export oriented unit under the STP scheme and it as to fulfill the obligations as set forth in the legal agreement, such as commencement of production with in the stipulated period, fulfillment of export obligations, etc.

The EOU scheme is, at present, governed by the provisions of Export and Import (EXIM) Policy. The Export Oriented Units (EOUs) scheme, introduced in early , is complementary to the SEZ scheme.

Synonyms and antonyms of export-oriented in the English dictionary of synonyms

Special Benefits to Export Oriented Units (EOU) There are many advantages, financial assistance and other supports from various government agencies, Banks and other agencies for Export Oriented Units. Forget password New User/ Regiser. B Bond, Bond Amount, Execution of Bond, Waiver of Bank Guarantee, Acceptance of the Bond, Bond Register - % Export Oriented Unit Scheme - % EOU Scheme - Central Excise.

The Export Oriented Unit (EOU) scheme was introduced in the year The purpose of the scheme was basically to boost exports. It was introduced as a complementary scheme to the Free Trade Zone/ Export Processing Zone (EPZ) Scheme.

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