EOUs, EHTPs, STPs, BTPs – Extension of Approval after completion of Period
As per para 6.3.9 of the Handbook Of Procedure of the Foreign Trade policy relating to EXPORT ORIENTED UNITS (EOUs), ELECTRONICS HARDWARE, TECHNOLOGY PARKS (EHTPs), SOFTWARE TECHNOLOGY PARKS, (STPs) SCHEME AND BIO-TECHNOLOGY PARKS (BTPs),
On completion of approval period as provided for in paragraph 6.6 of FTP, it shall be open to unit to continue under scheme or opt out of scheme. If no intimation in this regard is received from unit within a period of six months of expiry of approval period, DC will take action, suo moto, to cancel approval under EOU scheme and take further action in this regard. Where unit opts to continue, DC concerned will extend approval period.
Now this is amended to read as,
“On completion of approval period as provided for in paragraph 6.6 of FTP, it shall be open to unit to continue under scheme or opt out of scheme. Where unit opts to continue, DC concerned will extend approval period. If no intimation in this regard is received from unit within a period of six months of expiry of approval period, DC will take action, suo motto, to cancel approval under EOU scheme and take further action in this regard. Where units give their option to continue after expiry of six months as stipulated above, DC will grant extension after obtaining approval of BOA.”
The change is that now, if the option to continue is given after the period is over, the extension can be given only after the approval of the BOA.
DGFT Public Notice No. 138/(RE-2008) 2004-09, Dated: January 23, 2009