New Delhi : The Commerce Ministry has relaxed certain norms like doing away with mandatory warehousing requirement for export-oriented units (EoUs) and software andelectronic hardware technology parks.
The move is aimed at promoting out-bound shipments and manufactured products from EoUs, software technology parks of India (STPIs) and electronic hardware technology parks (EHTPs).
The Directorate General of Foreign Trade (DGFT) has also eased conditions for the existing EHTP and STP units to avail tax exemptions in the case of conversion or merger of EOU unit and vice versa. In a notification, DGFT said an EoU which is intoagriculture, aquaculture, horticulture and poultry may be permitted to remove specified goods in connection with its activities for use “outside the premises of the unit”.
