Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: empanelment :: form 3cd :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ACCOUNTING STANDARD :: VAT Audit :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment
Customs and Excise »
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016
 Common registration and return for First Stage Dealer and Importer
 Amendment to Notification No. 61/94-Customs

CBEC releases a draft scheme of Authorised Economic Operator for public comments
December, 21st 2010

The Central Board of Excise & Customs (CBEC) has released a draft scheme of Authorised Economic Operator (AEO) for public comments. Under the AEO programme, a party engaged in the international movement of goods is approved by customs as compliant with the supply chain security standards, and given benefits, such as simplified customs procedures and reduced customs intervention, which would speed up the clearances of import and export goods.

The programme is based on the World Customs Organisation's (WCO) SAFE Framework of Standards to secure and facilitate global trade. The framework was adopted by WCO, an organisation of 178 customs administrations, in 2005 to address growing concern among the customs administrations about the threats posed to national and global security through the misuse of channels of import and export.

The AEO programme is being increasingly adopted by various customs administrations world over with the objective of securing the supply chain with resultant benefits for the trading community, the finance ministry said in a statement today.

The programme encompasses various players in the international supply chain such as importers, exporters, warehouse owners, custom house agents, cargo forwarders and carriers. Once granted the AEO status, businesses will have a recognised quality mark, which will indicate their secure role in the international supply chain and that their customs procedures are efficient and compliant.

An entity with an AEO status can, therefore, be considered a 'secure' trader and a reliable trading partner. This will particularly benefit small businesses that account for the majority of importers and exporters, it said. An AEO status holder can enjoy benefits such as favourable consideration in any customs proceedings and a low-risk score resulting in reduced customs examination and inspection, clearance of cargo before duty payment.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions