> AEO is a Trade Facilitation Scheme for ease of doing business in light of international development
> Holder of this Certificate is Entitled for Privilege, Benefits, Exemption and Relaxation on account of import and export
> This certificate is issued for Particular Period after that to be renewed.
> This scheme is based on principle of sharing role and responsibility of customs with trade and industry and objective is to delink payment and clearance, to accept paperless declaration, increases efficiency, self-certification, earliest refund and drawback, request based examination/inspection
> AEO Program provides businesses with an Internationally Recognized Status as a “Secure Trader & Reliable Trading Partner
Who is Entitled to get AEO benefits?
3. Custodians, Warehouse providers, Logistics Providers, CHAs, etc.
Types of AEO
Benefits of AEO Scheme
Some of the Attractive Features and Benefits AEO Certification are mentioned in the below Table.
Eligibility Criteria for AEO scheme
No difficult condition is to be fulfilled. Main condition is that no case of fraud, etc of evasion of duty, etc should be booked against the party. Genuine parties are always welcome. And this Government scheme indicates that AEO parties must have robust internal checks and balances for security of goods, data, records security, professional grade management control and supervision mechanisms, etc so that fraud does not take place.
Procedure to Get AEO Certificate
The Procedure for applying for AEO Certification and its related Forms are available in the following Circulars
Disclaimer : The views and opinions; thoughts and assumptions; analysis and conclusions expressed in this article are those of the authors and do not necessarily reflect any legal standing.
Author : SN Panigrahi, GST Consultant, Practitioner, Corporate Trainer & Author
Can be reached @ [email protected]