SME Times News Bureau | 27 May, 2021
The Central Board of Indirect Taxes and Customs (CBIC) has further eased
compliance measures for exporters by extending the validity of the
Authorized Economic Operator (AEO) giving them more time to renew their
accreditation.
Accordingly, in its latest circular, CBIC has
extended the validity of all AEO certificates expired or expiring
between April 1 and May 31, 2021 to June 30. The extension will not be
eligible for the cases where the entity has been found ineligible for
continuation under the AEO Programme.
The board has received
representations by the field formations regarding the difficulties being
faced by the AEO entities in renewing their existing certification
owing to various degrees of restrictions/lockdown in different parts of
the country due to COVID pandemic, the CBIC said in its circular
extending the AEO validity.
AEO is a programme under the aegis of
the World Customs Organization (WCO) SAFE Framework of Standards to
secure and facilitate global trade. The programme aims to enhance
international supply chain security and facilitate movement of
legitimate goods. Under this programme, an entity engaged in
international trade is approved by Customs as compliant with supply
chain security standards and granted AEO status and certain benefits.
