Business Standard

Clarification on import by EOUs

Under the new procedure, EOUs are required to provide information in duplicate to the jurisdictional customs authorities regarding estimated quantity and value of goods to be imported


TNC Rajagopalan
The Central Board of Indirect Taxes and Customs (CBIC) has issued a useful circular. It clarifies the procedure for import by export-oriented units (EOUs) and units of software technology parks, electronic hardware technology parks and bio-technology parks, collectively referred to as EOUs here. It can go further and clarify other related issues.  

EOUs import their requirement without payment of duty or taxes, under notification 52/2003-Customs dated March 31, 2003. Before introduction of the Goods and Services Tax, these were required to get procurement certificates from their jurisdictional excise/customs authorities and give this to the authorities at the customs station of import.
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

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First Published: Apr 30 2018 | 7:00 AM IST

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