Date:20/12/2005 URL: http://www.thehindubusinessline.com/2005/12/20/stories/2005122003170900.htm

Back Revenue department eases norms for registration of EOUs

G. Srinivasan

New Delhi , Dec. 19

THE Department of Revenue has prescribed a simple procedure for registration of export-oriented units (EOUs), electronic hardware technology parks (EHTP) and software technology parks (STP) for clearance of import goods, in a serious bid to bring down the transaction cost in these exclusive export enclaves.

According to a recent notification issued by the revenue department, every unit in EOU/EHTP/STP would be required to submit six documents along with an application on plain paper for registration, in place of the 25 documents being sought till now.

The six documents are a copy of the Letter of Permission from the Development Commissioner, a copy of private bonded warehousing license issued under Section 58 of the Customs Act, bank attested signatures of authorised signatories of the EOU/EHTP/STP units, passport size photograph of director/proprietor/signatories, a copy of the import-export code and a copy of the green card.

The new circular states that the customs authorities would grant registration to EOUs within five workings days from the receipt of the application.

Hence, this will reduce the time period of registration from over 25 days.

The circular also states that the Assistant Commissioner/Deputy Commissioner would issue the unit a certificate stating that the unit has been registered.

Once an EOU/EHTP/STP unit is registered at the port of import, it would not be required to get itself registered subsequently in any port of import where it might source its imports. Hence, this will get rid of the formalities of repeated registration with various ports, as per the extant practice.

According to the Director-General, Export Promotion Council for EOUs and SEZ (EPCES) units, Mr L.B. Singhal, the new circular would go a long way in simplifying procedures, which the exporters had been seeking.

He said the issue has been highlighted by the EOUs in various open houses organised by EPCES and that the revenue department had responded positively to the pleas of the council.