 "exports, imports, trade, shipments")
The Union finance ministry has amended the Customs and Central Excise notifications relevant to Export Oriented Units (EOUs) so as to align these with the present Foreign Trade Policy (FTP). Also, to remove redundancies that had crept in due to changes/supersession of certain other notifications and developments, such as introduction of the Goods and Services Tax (GST). And, to exempt the EOUs from application of the provisions of Customs-bonded warehousing.
It is a welcome development but the question is why it took so long to do so. The changes in Customs notification 52/2003-Cus dated March 31, 2003, include temporary clearance of
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