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Circular
No. 11/96
dated 16/2/96
F.No. 305/ 113/ 93-
FTT
Government of India
Ministry of Finance
Department of Revenue,
New Delhi
Subject :
Status of EOU / EPZ units after the expiring of bonded period - Ambiguity
pointed out by Confederation
of Export Units
- regarding
I am directed to draw attention to the letter of the Confederation of Export
Units, pointing out some ambiguity about the status of EOU / EPZ units
in the interim period between the completion of the initial period of approval
and actual approval to continue as an EOU. In this regard it is clarified
that Section 65 of Customs Act 1962 would adequately cover their case if
they wished to continue the manufacturing operations in bond after the
expiring of the initial bonding period and they can continue to function
under the said Section. This is brought to the notice of field formations
for their information and necessary action. Any EOU / EPZ Unit desiring
to so function under bond in terms of Section 65 may by suitably advised.
Sd/-
(Ranjana Jha)
Under Secretary
to the Govt. of India.