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of <h1>Circular Eases Bonding for EOUs, Allows Self-Managed Goods Movement with Record-Keeping and Audits Under Section 58A</h1> The circular liberalizes bonding procedures for 100% Export Oriented Units (EOUs) by removing physical supervision requirements such as fixed warehouse hours, customs officer presence during manufacturing, and warehouse locking. EOUs may now self-manage movements of raw materials, components, and finished goods, provided they maintain accurate records approved by customs authorities. Movement of non-duty paid goods between EOUs and related units is permitted but subject to monitoring, including obtaining rewarehousing certificates and export proofs, with duty demand triggered upon non-compliance. Monthly audits by cost recovery officers are mandated, with provisions for special cost accountant audits authorized by the Chief Commissioner. While operational flexibility is increased, cost recovery officers retain supervisory responsibilities, ensuring proper record-keeping and accountability, especially when units share resources or consolidate operations. The circular emphasizes strict adherence to record maintenance and audit protocols to prevent misuse.
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