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TMI BlogBackground, Objectives and Incentives/facilities available to EOUsX X X X Extracts X X X X X X X X Extracts X X X X ..... e 1980. Sector Specific EOU scheme are also known as Software Technology Park (STP) scheme for export of software; or Electronic Hardware Technology (EHTP) Park Scheme for export of electronic Hardware; or Bio-technology Park (BTP) Scheme for export of Bio Technology Products. Under EOU Scheme, manufacturing or service sector units are allowed to be set up with the objective of exporting entire p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der Customs Act, 1962 and Central Excise Act, 1944. Similarly other agencies like Reserve Bank of India (RBI), Central Board of Direct Taxes (CBDT), Directorate General of Foreign Trade (DGFT) etc. have issued notifications /Circulars for proper implementation of the scheme including laying down procedures thereof. Main notifications issued by the CBEC in the Department of Revenue providing duty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nto the country; (g) Upgrading the skill and creating source of skilled man-power; (h) Development of backward area. Incentives/facilities available to EOUs:- Various incentives/facilities available to EOUs, in brief, are as under:- (i) Duty free imports or procurement from Bonded Warehouse /International Exhibitions of inputs, consumables, office or other capital goods (including second-hand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Concessional rate of Central Excise duty[vide notification No. 23/2003-Central Excise, dated 31.03.2003]. (vii) Only positive net foreign exchange earnings (NFE) to be achieved over a period of five years. (viii) Duty free goods (except Capital Goods) to be utilized over a period of 3 years. (ix) Export proceeds to be realized within a period of 12 months. Retention allowed upto 100% of expor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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