STAR EXPORT HOUSE
Master of Commerce – M.Com First Year Solved Assignments for July 2019 and January 2020 Admission Cycles
M.COM First Year Tutor Marked Solved Assignment
Course Code: IBO – 04
Course Title: Export-Import Procedures & Documentation
Assignment Code: IBO-04/TMA/2019-20
Coverage: All Blocks
Course Title: Export-Import Procedures & Documentation
Assignment Code: IBO-04/TMA/2019-20
Coverage: All Blocks
IBO – 04 Export-Import Procedures & Documentation Solved Assignment for 2019-20
Q4.) Comment on the following statements:
d.) There are no privileges for the Star Export House.
Ans: The following statement is incorrect as the status-holder position allotted to the exporters of goods and services depending upon a certain level of export performance achieved by them. The exporters of goods/services who hold valid importer-exporter code no. (IEC) may apply to Director General of Foreign Trade (DGFT) for recognition as 'status-holder' viz. One Star Export House, Two Star Export House, Three Star Export House, Four Star export House, and Five Star Export House.
Star Export House is an Indian exporter who has excelled in international trade and successfully achieved a certain minimum amount of export performance in two out of three financial years. To obtain star export house status, the exporter involved in the export of goods or services must have a valid import export code.
On being recognized as a star export house, the exporter enjoys various benefits and privileges as under:
1.) Authorization and customs clearance for both imports and exports may be allowed on a self-declaration basis.
2.) Exemption from furnishing of bank guarantee for Schemes under Foreign Trade Promotion, unless specified otherwise.
3.) Input-Output norms may be fixed on priority within 60 days by the Norms Committee.
4.) Exemption from compulsory negotiation of documents through banks. Remittance or receipts, should, however, be received through banking channels.
5.) Two Star and above export houses are permitted to establish an export warehouse as per the Department of Revenue guidelines.
6.) Three Star and above export houses are permitted to get benefits of Accredited Clients Programme, as per the guidelines of the Central Board of Excise and Customs.
d.) There are no privileges for the Star Export House.
Ans: The following statement is incorrect as the status-holder position allotted to the exporters of goods and services depending upon a certain level of export performance achieved by them. The exporters of goods/services who hold valid importer-exporter code no. (IEC) may apply to Director General of Foreign Trade (DGFT) for recognition as 'status-holder' viz. One Star Export House, Two Star Export House, Three Star Export House, Four Star export House, and Five Star Export House.
Star Export House is an Indian exporter who has excelled in international trade and successfully achieved a certain minimum amount of export performance in two out of three financial years. To obtain star export house status, the exporter involved in the export of goods or services must have a valid import export code.
On being recognized as a star export house, the exporter enjoys various benefits and privileges as under:
1.) Authorization and customs clearance for both imports and exports may be allowed on a self-declaration basis.
2.) Exemption from furnishing of bank guarantee for Schemes under Foreign Trade Promotion, unless specified otherwise.
3.) Input-Output norms may be fixed on priority within 60 days by the Norms Committee.
4.) Exemption from compulsory negotiation of documents through banks. Remittance or receipts, should, however, be received through banking channels.
5.) Two Star and above export houses are permitted to establish an export warehouse as per the Department of Revenue guidelines.
6.) Three Star and above export houses are permitted to get benefits of Accredited Clients Programme, as per the guidelines of the Central Board of Excise and Customs.
STAR EXPORT HOUSE
Reviewed by Simran
on
April 27, 2020
Rating:
Reviewed by Simran
on
April 27, 2020
Rating:
Can you please provide some more detailed explanation?
ReplyDeleteI think it is enough...what detail you need, do let me know.
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