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Monday, Jan 31, 2005

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Fast track clearance norms for EOUs revised

K.R. Srivats

New Delhi , Jan. 30

THE fast track clearance procedure for export oriented units (EOUs) with status holder certificate has been overhauled by the Department of Commerce in the Commerce and Industry Ministry.

The revised procedures are being seen as somewhat restrictive, with many in the exporting community contending that the new procedures may even defeat the objective for which the fast track clearance procedures were initially evolved.

Under the revised fast track clearance procedures, EOUs having physical export turnover of Rs 15 crore and above in the preceding financial year would alone be allowed to import goods without payment of duty. This would be done on the basis of the pre-authenticated procurement certificate issued by jurisdictional customs/excise authority.

As regards temporary removal of capital goods, the new dispensation provides that the eligible EOUs could remove their capital goods or parts thereof for repairs under prior intimation to the jurisdictional assistant/ deputy commissioner of customs or central excise. Hitherto, temporary removal of capital goods was allowed on self-certification basis.

Further, clearance of rejects in domestic tariff area (DTA) would now require permission of the jurisdictional excise authority, who would be required to consider the request on priority basis.

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