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TMI BlogTRADING IN EOUX X X X Extracts X X X X X X X X Extracts X X X X ..... TRADING IN EOU X X X X Extracts X X X X X X X X Extracts X X X X ..... By YAGAY AND SUN: The Reply: EPCES CIRCULAR NO.29 DATED 6.1.04 L.B. Singhal Director General Sub : i) Postponement of implementation of SEZ Rules and Regulations till 1-3-2004 ii) Trading Activities for EOUs, for trading EOUs which were in existence prior to 31-3-2002 1. Ministry of Finance has issued Notification Nos 116, 117, 118 and 119-Cus(NT) all dated 31-12-2003 and Notification No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 85/2003-CX(NT) dated 31-12-2003 through which the effective date for implementation of SEZ rules & regulations have been postponed from 1-1-2004 to 1-3-2004. 2. Department of Revenue has issued notification No. 01/2004-Cus dated 2-1-2004 regarding trading activities in the EOU in respect of trading EOUs which were in existence prior to 31-3-2002. At present trading activities in the EOU is not al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lowed. Trading activities in the EOUs have been discontinued from 31-3-2002. However, prior to this, trading activities in the EOUs were allowed. After discontinuance of trading activities under the EOU Scheme, the existing trading EOUs had been representing that they should be permitted to continue their trading activities as LOP/LOI had been issued prior to discontinuance of the Scheme. Departm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of Revenue has issued Notification No. 01/2004-Cus dated 2-1-2004 wherein this request has been accepted. This notification permits import of goods for the purpose of trading by the trading units which were in existence prior to 31-3-2002 and having valid Letter of Permission to continue under the Export Oriented Undertaking Scheme. However this import is subject to the following condition:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... "The unit engaged in trading shall not be allowed to,- (i) sell any goods so imported in the domestic tariff area or remove samples in the domestic tariff area; (ii) export goods through merchant exporter or through any other exporters; (iii) transfer the goods to other export oriented undertaking or unit in Electronic Hardware Technology Park (EHTP) or Software Technology Park (STP) or Special ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Economic Zone; (iv) remove the goods outside the bonded premises for the purpose of jobwork;" Above stated notifications are available on the Department of Revenue, CBEC website www.cbec.gov.in Reply By KASTURI SETHI: The Reply: No. Procurement of inputs/raw material free of duty by an EOU is to be used for manufacture of goods to be exported. Target of export obligation is to be achieved. R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eply By YAGAY AND SUN: The Reply: Under para 6 (a) of Chapter 6 of the FTP 2015-2020,Trading units are not covered under these schemes. Reply By KASTURI SETHI: The Reply: Thanks a lot to M/s.YAGAY and SUN for posting the authority quickly. I was trying to locate the same but in the time you posted the authority in detail. Reply By KASTURI SETHI: The Reply: Sh.Suresh Kumar Ji, I am all prais ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e for your style of life. Your way of life reminds me of the following event. Three days ago Sh.Prikshit Sahni s/o late Sh.Balraj Sahni (legend Actor) visited Chandigarh as Chief Guest in Tagore Theatre. (Mohd. Rafi Night). He told what his father advised to him, "Never be contented with your qualification/achievement and knowledge. When you think that you have achieved sufficient qualifica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion/knowledge, you are finished. Always pray to God to do something new for society/nation." Prikshit Sahin also admitted,"He stands nowhere in acting as compared to his father." Legend actor Balraj Sahni's words are true. Had scientists been satisfied with their achieved knowledge, there would not have been revolution in the field of information technology and electronic tel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecommunication etc.
Reply By Ganeshan Kalyani:
The Reply: Well explained Sir. Impressed.
Reply By MARIAPPAN GOVINDARAJAN:
The Reply:
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