Can any body tell me the procedure to convert existing trading activities in to EOU units?
Nehal A.Sejpal (Service) (61 Points)
26 December 2008Can any body tell me the procedure to convert existing trading activities in to EOU units?
R.Suresh
(Sr. Executive)
(394 Points)
Replied 31 December 2008
Tell me your existing trading activities, becuase procedure is different for all.
Nehal A.Sejpal
(Service)
(61 Points)
Replied 01 January 2009
Originally posted by :Nehal A.Sejpal | ||
" | Can any body tell me the procedure to convert existing trading activities in to EOU units? | " |
I hve 3 co's. Co. A, Co.B & Co.C. Co. A is mine owner, Co. B is Contractor & Co. C is Exporter. In co.A ,Mr.A is 100% owner, In Co. B Mr.B is 100% owner & in Co. C Mr.A & Mr. B is 50% - 50% partner. Co is dealing in Iron Ore. Now give me advise wether Co. C is able to register as 10% EOU as it is purchase from Co.A.
R.Suresh
(Sr. Executive)
(394 Points)
Replied 02 January 2009
You going to take a IEC code
How to take Import Export Code to follow the link
URL https://www.ieready.com/eou.html
Its help you and any clarification revert back.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 06 January 2009
Any company can be converted to 100% EOU. However, it has to be examined as what is the benefit which will accrue to a unit after converting to 100% EOU.
100% EOU scheme is useful to the units having major export market, and in need of imported raw material and capital goods. Company C as exporter can become a 100% EOU, but it does not need to import anything (i m presuming mines are in india). The only benefit it will get is income tax exemption for some time- till 2010.
Mukul
(CEO)
(22 Points)
Replied 25 April 2009
We have a 100% and now we would like to do some trading activity as well. We would like to make a trading unit of our existing EOU.
Can you tell us if we need a new IEC code or can we do some amendments in our existing IEC.