Fast Track Clearance – Board issued instructions – in tune with DGFT circular – nothing new
The Foreign Trade Policy gloriously announced a fast track clearance for EOUs. The Finance Ministry was not impressed and by Circular No.54/2004 – Cus. dt.13.10.2004 put the fast track policy on slow track, rather hold. May be cowed down by Revenue, the DGFT by Public Notice No. 50 of 2004 – 09 dt.24.01.2005 amended the policy. Now the CBEC has come up with a new circular to give effect to the DGFT’s policy. Most of the fast track announced is already in existence and that is what even the Board circular says. But the mute question is should exporters and EOUs be confused by two agencies CBEC and DGFT? Can’t they concentrate confusion in one agency? – CBEC’s Circular No.12/2005-Cus dt.4.3.2005