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.............................................................................................................................DescriptionThe Export Oriented Units scheme that was made operational in the early 1980s has now been expanded to include virtually every export activity including export of services. It is, therefore, a vital component of India's overall export promotion strategy and the exporting units operating under this scheme avail various fiscal and other incentives that facilitate their export efforts.The law and procedures that govern the Export Oriented Units are prescribed in the Foreign Trade Policy issued by the Department of Commerce. In accordance with the said Policy critical support is extended to the exporting units by other arms of Government. In particular, Ministry of Finance grants a host of concessions relating to Customs, Central Excise, Income Tax and other levies.This publication details all legal provisions and procedures that currently apply to the Export Oriented Units. Relevant statutes, circulars, notifications, forms, etc. that regulate their entire range of activities - eligibility, approval, duty free import/ procurement, DTA sale, export, obligations under the schemes, etc. - are included. Judicial decisions and recommendations of Expert Committees are also incorporated for an appreciation of how the scheme has shaped up over the years. This is an updated publication containing all the recent changes affecting the Export Oriented Scheme, as proposed in the Finance Bill, 2008 and the Annual Supplement 2008 to the Foreign Trade Policy, 2004-2009..............................................................................................................................ContentsChapter 1. Introduction to EOU SchemeChapter 2. Law and AdministrationChapter 3. Eligibility under the SchemeChapter 4. Approval under the SchemeChapter 5. Legal UndertakingChapter 6. Duty Free Import FacilityChapter 7. WarehousingChapter 8. SupervisionChapter 9. Sub-ContractingChapter 10. DTA SaleChapter 11. Clearance of Rejects, Waste and ScrapChapter 12. Inter-Unit Transfer.Chapter 13. ExportChapter 14. Exit from Scheme & Disposal of Unutilized GoodsChapter 15. Conversion of UnitsChapter 16. Procurement of Goods from DTAChapter 17. Income Tax & Other BenefitsChapter 18. Central Excise DispensationChapter 19. Misuse of the SchemesChapter 20. Misuse of the SchemeAppendix A - Special Features of STP/EHTP/Gems & Jewellery UnitsAppendix B - Recommendations of Experts/ CommitteesAppendix C - Important Developments in EOU Scheme.............................................................................................................................Author DetailsS.M. Bhatnagar is a 1984 batch officer of thgr Indian Revenue Service (Customs and Central Excise). He gained practical experience in all key areas of Customs and Central Excise work during his stints in various Commissionerates and Directorates under the Central Board of Excise & Customs (C.B.E.C.). As Under Secretary and then as Director in the C.B.E.C., Ministry of Finance he was closely concerned with policy formulation and implementation of the Export Oriented Units scheme. After a stint at the Consulate General of India, New York, he is presently posted as Commissioner of Customs, Chennai.S.M. Bhatnagar has been a Member of the Working Group on Central Excise Act and Procedures, of the Special Task Force on Modvat Frauds, of the Working Group on Central Excise Re-engineering Projects, of the Project Advisory Group for Customs Re-engineering Project, and of the Project Steering Committee for Central Excise Projects under CIDA. He was also the Member-Secretary of the Task Force on Indirect Taxes (Kelkar Committee). He is a recipient of the Presidential Award for Specially Distinguished Record of Service..............................................................................................................................
