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By:Ashfaque Husian Nagpurwala -075 Tapas Kolte -149 Vikas Shah Payal Choudhary -130 Harshita Goel
INTRODUCTION ON EOU
Introduced
of India
Eligibility
Units undertaking to export their entire production of goods and services. (manufacture, repair, re-make, recondition, re-engineer, render services.)
Key Points
EOUs can get a location of their choice Customs-bonded anywhere in India. EOUs can import without duties, all capital goods and raw materials for running the unit EOUs can sell up to 50% of FOB value of exports in the Indian market at concessional duties
Procedure Of Registration
1
2 3
1. Documents
Total 6 Documents Required
copy of LOP (letter of Permission) Copy of Private Bonded Warehousing License
issued under section 58 of the Customs Act, Bank attested signatures of authorized signatories of the EOU/EHTP/STP unit. Passport size photograph of Director/Proprietor/signatories Copy of IEC No Copy of green card Copy of Legal Agreement For 100%EOU
Letter of Permission
Green Card
Transfer of Goods
(A)
Transfer of manufactured goods from one EOU to another is allowed with prior intimation to concerned DC and Customs authorities
(B) Capital goods may be transferred or given on loan with prior intimation to concerned Development Commissioner and Customs authorities. (C) Goods supplied by one unit to another shall be treated as imported goods for second unit for payment of duty, on DTA sale by second unit.
COFFEE
PHARMACEUTICALS GEM & JEWELLERY ENGINEERING GOODS ELECTRICAL & ELECTRONICS AQUA & PEARL CULTURE
(C)
Goods supplied by one unit of EOU to another unit shall be treated as imported goods.
An EOU / EHTP / STP / BTP Unit may also be permitted by Development Commissioner to exit under Advance Authorization as a one time option.
Benefits of EOU
No payment of Income Tax
Materials from domestic market. 100% of foreign equity is permissible. Reimbursement of Central Sales Tax Exemption up to 90% from Income-tax Full Freedom for sub-contracting. Exemption from the payment of Electricuty duty.
Benefits of EOU
Fast Track Clearance Scheme (FTCS) for
clearances of imported consignments for EOU. In certain cases, excise duty payable will be only 50%/30% of normal 100% exemption on sales tax Job work for exports is permitted Supplies made to EOU by Indian supplier are deemed exports No restrictions on managerial remuneration No restrictions on External Commercial Borrowings
EOU 04 V/S 09
Procurement and supply of export promotion
material of 1 .5% of FOB value of previous years exports is allowed. Goods imported shall be used only for export production Time limit for export of Gold/silver/ platinum jewelry increased from 60 days to 90 days Procurement and export of spares/components, increased from 1.5% to 5 %
EOU 04 V/S 09
Sectors other than Gems & Jewellery may
import/procure 5% FOB(PFY) value without payment of duty. units which are manufacturing and exporting more than one product can sell 90% of FOB of any of these products into DTA. Unit will not be required to furnish bank guarantee at the time of import, where unit has
(i) a turnover of Rs. 5 crores or above (ii) unit is in existence for at least three years
ABOUT EHTPs
The EHTP Scheme is a 100% Export Oriented
Scheme for undertaking manufacturing of electronic hardware equipment/components in India. An Electronic Hardware Technology Park (EHTP) may be an individual unit by itself or a unit located in an area designated as EHTP Complex. The EHTP Scheme is also administered by the Ministry of Communications & Information Technology.
Exemption from payment of corporate income tax and also sales tax reimbursement. 100% foreign equity allowed. Supplies made by DTAs to EHTPs to be treated as deemed exports.
EHTP unit maybe setup for both hardware and software in an integrated manner.
No excise duty levied on purchase of indigenous goods.
years.
Positive NFE = FOB value of exports-(sum total of
custom authorities. It is amenable to bonding by the customs. All the manufacturing operations are carried out in the same premises.
However, the unit may be permitted to sub-contract
REGISTRATION PROCEDURE
The application for setting up a unit must be duly
filled with signatures and rubber stamp on each page of the application. An application fee of 2500 is to be paid. The project report must contain details about:
Company profile, promoters background, services
offered, marketing strategy, manpower plan, future plans, financial statements, finance details, projected financial statements, export workings.
REGISTRATION PROCEDURE
The MOA and AOA of the company is to be
submitted. Once the director acknowledges the receipt of the application, a reference no is given to each application. The applicant is the required to give a presentation on his B plan in the EHTPI office. On approval, letter of permission is issued to the units. Now, the unit needs to undertake the following:
Execution of legal agreement. Custom bonding.
Bibliography
http://www.manupatrafast.com/articles/PopOpenArticle.aspx?ID=
1e624d8f-68d8-4b81-89e643d6973395f7&txtsearch=Subject:%20Indirect%20Tax http://www.ieport.com/Customs_manual/customs-manual2012(25).PDF http://www.eouindia.gov.in/epc_cir_2004_2005_76.htm http://www.stpi.in/index.php?langid=1 http://en.wikipedia.org/wiki/Software_Technology_Parks_of_India http://www.stpp.soft.net/ http://deity.gov.in/content/stpi http://www.eximguru.com/exim/software_techanology_parks_stp s/ch_1__stps_introduction.aspx http://www.nsic.co.in/stp.asp http://www.indiasoft.org/2013/index.php?option=com_content&vi ew=article&id=558:software-technology&catid=43:exhibitingcompanies http://www.thehindubusinessline.com/industry-andeconomy/software-technology-parks-to-offer-incentives-to-smallunits/article4995693.ece
Bibliography
http://www.biospectrumindia.com/biospecindia/ne
ws/156202/biotech-parks-india http://dst.gov.in/whats_new/press-release07/biotechnology-park.htm http://www.nistads.res.in/indiasnt2008/t3infrastruc ture/t3inf7.htm http://dbtindia.nic.in/link/admin/admin_view_link2. asp http://216.81.76.51/dnaclub/ http://sbiri.nic.in/ http://btisnet.gov.in/ www.rbi.org.in