Export obligation under EOU Scheme requires full export of production, positive net foreign exchange and compliance conditions. Letter of Permission under the EOU Scheme grants approval for establishment and specified production items subject to conditions: export entire production for five years with a prescribed legal undertaking; achieve positive Net Foreign Exchange for the block period; import of specified capital goods is recorded; import/local purchase allowed except prohibited items. The permission is valid for three years to implement the project and commence production, requires execution of the prescribed Legal Agreement, acceptance within forty five days, intimation of commencement to the Development Commissioner, and warns of cancellation on non compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Export obligation under EOU Scheme requires full export of production, positive net foreign exchange and compliance conditions.
Letter of Permission under the EOU Scheme grants approval for establishment and specified production items subject to conditions: export entire production for five years with a prescribed legal undertaking; achieve positive Net Foreign Exchange for the block period; import of specified capital goods is recorded; import/local purchase allowed except prohibited items. The permission is valid for three years to implement the project and commence production, requires execution of the prescribed Legal Agreement, acceptance within forty five days, intimation of commencement to the Development Commissioner, and warns of cancellation on non compliance.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
