TMI BlogTRADING IN EOUX X X X Extracts X X X X X X X X Extracts X X X X ..... I need to know whether trading activities can be done in EOU. What I mean is that can an EOU by raw materials / inputs without payment of duty but clear the same to DTA on payment of applicable rate of duty on regular trading basis? - Reply By YAGAY AND SUN - The Reply = EPCES CIRCULAR NO.29 DATED 6.1.04 L.B. Singhal Director General Sub : i) Post ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ponement 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. 85/2003-CX(NT) dated 31-12-2003 through which the effective date for implementation of SEZ rules ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 allowed. Trading activities in the EOUs have been discontinued from 31-3-2002. However, prior ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. Department of Revenue has issued Notification No. 01/2004-Cus dated 2-1-2004 wherein this re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quest 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:- The unit engaged in trading shall not be allowed to,- (i) sell any goods so ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 Economic Zone; (iv) remove the goods outside the bonded premise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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. - Reply By YAGAY AND SUN - The Reply = Under pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ra 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 praise for y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... our 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 qualif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ication/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 electron ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ic telecommunication etc. - Reply By Ganeshan Kalyani - The Reply = Well explained Sir. Impressed. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Thanks for all for the nice information which is an added advantage to me. - TRADING IN EOU - Query Started By: - SURESH KUMAR Dated:- 30-12-2015 Customs - Import - Export - Customs - SEZ - Got 7 Replies - Customs - Discussion Forum - Knowledge Sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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