WHAT ARE THE PRIVILEGES OF EXPORT & TRADING HOUSES?
The same are given in para 3.10.4 & are reproduced below for ready reference of the Apparel India readers:
3.10.4 A Status Holder shall be eligible for privileges as under
- Authorization and Customs Clearances for both imports and exports on self-declaration basis;
- Fixation f Input-Output norms on priority within 60 days;
- Exemption from compulsory negotiation of documents through banks. Remittance/Receipts, however, would be received through banking channels;
- 100% retention of foreign exchange in EEFC account.
- Exemption from furnishing of BG in Schemes under FTP;
- SEHs and above shall be permitted to establish Export Warehouses, as per DoR guidelines.
- For status holders, a decision on conferring of ACP Status shall be communicated by Customs within 30 days from receipt of application with Customs.
- As an option, for Premier Trading House (PTH), the average level of exports under EPCG Scheme shall be the arithmetic mean of export performance in last 5 years, instead of 3 years.