What is CST reimbursement?

What is CST reimbursement?

As per Foreign Trade Policy of India, EOU / EHTP / STP / BTP units shall be entitled to reimbursement of Central Sales Tax (CST) on goods manufactured in India. Simple interest @ 6% per annum will be payable on delay in refund of CST, if the case is not settled within 30 days of receipt of complete application.

What is 100 export oriented unit?

A 100 per cent export-oriented unit is an industrial unit offering for export its entire production, excluding the permitted levels of domestic tariff area sales for manufacture of goods, including repair, re-making, reconditioning, re-engineering and rendering of services.

What is difference between SEZ and EOU?

An EOU can be set up anywhere in the country, provided it meets the scheme’s criteria. On the other hand, an SEZ is a specially demarcated enclave that is deemed to be outside the Customs jurisdiction and therefore, a foreign territory.

How do I get 100% EOU certificate?

1. Application for Custom Bonding.
2. Copy of Approval Letter received from DC.
3. Copy of Green Card issued by DC.
4. List of proposed Plant & Machinery of Capital Goods attested by DC.
5. LUT executed with DC for Export Commitment.
6. Process of Manufacture (Software Development Process).

What was the reason for launching the scheme of 100% export oriented units?

The Export Oriented Units (EOU) scheme was introduced to boost exports, increase foreign earnings and created employment in India. The EOU scheme is complementary to the scheme for Free Trade Zone, Export Processing Zone.

How do I check my EOU status?

To obtain EOU status, application for setting up of unit under EOU scheme must be made to the Board of Approval. In the case of approving, they provide validity of Letter of Permission for setting up EOU.

Can 100 Eou do job work?

Permission for Job work – 100% Export Oriented Unit Scheme – 100% EOU Scheme – Central Excise. The permission for job work is granted by the jurisdictional Assistant Commissioner of the EOUs. The permission is valid for one year. The goods sent for job work has to be brought back to the unit within a period of 90 days.

What is a EOU unit?

INTRODUCTION. EOU (export oriented unit) scheme is one of the export promotion schemes of Govt of India and is in existence since 1980. ▶ Under this scheme, manufacturing or service sector units are allowed to be set up. with the objective of exporting entire production of goods manufactured or services.

How are eous exempt from corporate income tax?

Supplies from the DTA to EOUs are regarded as deemed exports and are hence exempt from payment of excise duty which means that high quality inputs are available at lower costs. On fulfillment of certain conditions, EOUs are exempted from payment of corporate income tax for a block of 5 years in the first 8 years of operation.

How can I check the status of my tax refund?

You can call the IRS to check on the status of your refund. However, IRS live phone assistance is extremely limited at this time. Wait times to speak with a representative can be long. But you can avoid the wait by using the automated phone system. Follow the message prompts when you call.

How are eous and EPZ units allowed to export?

EOUs and EPZ units may export goods through Trading and Export Houses or other EOU and EPZ Units. EOU can also import second hand capital goods without any age limit. 50% of physical exports can be sold in domestic market on payment of concessional duty.

How often does the IRS update the status of your refund?

The systems are updated once every 24 hours. You can call the IRS to check on the status of your refund. However, IRS live phone assistance is extremely limited at this time. Wait times to speak with a representative can be long. But you can avoid the wait by using the automated phone system.