Foreign Trade Policy 2005
11. Export Oriented Units
- Duty free spares up to 5% of the value of Capital Goods imported for excavation purposes in the Granite sector will be allowed to be removed to the quarries.
- The de-bonding procedure for EOUs has been simplified. A self-assessment procedure along with time bound disposal of applications of such exiting EOUs will be put in place.
- Capital Goods will be allowed to be transferred or given on loan basis to other units under intimation to both Excise and Development Commissioner.
- Transfer of samples to other EOUs on returnable basis within a period of 30 days to be allowed.
- EOUs to be permitted to claim IT exemption in respect of income on export proceeds realised within a period of 12 months from date of export.
12. Target Plus Scheme
- The Target Plus Scheme aimed at rewarding incremental exports would continue in the year 2005-06 with such modifications as will be notified, separately for preventing misuse, if any.
13. Bank Guarantee
Quantum of Bank Guarantee in respect of "Other Manufacturer Exporters" category is being reduced from 25% to 15%. Units in Agri Export Zones ( AEZs ) shall also be eligible to submit a Bank Guarantee of 15%. In addition, only a 15% Bank Guarantee shall be required for established service providers who have free foreign exchange earnings of Rs.50 lakhs or more during the preceding financial year and have a clean track record.