EOUs- Bonding Procedure Liberalised

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....n movement of raw materials, components, finished goods and manufacturing process and accounting of the same in an EOU has been under the review of the Board for some time. The Board has since amended the "Manufacture and Other Operations in Warehouse Regulations, 1966" by notification No. 44/ 98-Customs (NT) dated 2.7.1998 to provide operational flexibility, ease the restrictions and remove pract....

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....to DTA can be made by the manufacturer himself subject of his recording of each transaction in the records  prescribed by the Board/ Commissioners or their private records approved by the Commissioners. (ii) As physical control is being abolished, greater stress needs to be given on proper maintenance of prescribed records/ accounts and non-maintenance of the accounts shall be viewed seriou....

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....ds have been actually received in the unity or not. In case of non receipt of rewarehousing certificate and similarly proof or export of export from the proper officer, within 90/180 days, the duty shall be demanded from the sending unit immediately. (iv) Audit of the unit : The presently sanctioned Cost Recovery Officers shall examine the records of the units and transactions undertaken by th....

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....presently attached to the said units. There is no proposal at present for reduction or abolition of the said cost recovery posts. Wherever one officer has been assigned to more than one unit, the said officer would be made responsible for specific monthly checks. However, the units be permitted to operate with as much flexibility as possible. To obtain economy of scale units resort to various cost....