CBIC Eased Compliance Formalities by Extending Eligibility of AEO to Facilitate Better Export Output
CBIC has extended the validity of all AEO certificates expired or expiring between April 1 and May 31, 2021 to June 30.
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.