STP -SERVICES OFFERED >> REGULATORY

CANCELLATION OF REGISTRATION

Normal Cancellation:

STP registration and corresponding Legal Agreement with the unit is valid for 5 years. On completion of the same, the unit may be permitted by the Director, STP to proceed for de-bonding provided the required export obligation are fulfilled and the unit has complied with the other requirements of the scheme.

Premature opting out:

The Director, STP may consider the appeal of an STP unit for pre-mature cancellation of the registration before expiry of the period of 5 years subject to the unit fulfilling the necessary obligation under the provision of STP. No refund of Service Charges received in advance by STP will be made

Cancellation for Non-compliance:

The Director, STP may, on his own initiative, cancel the STP registration of a unit before expiry of the minimum period of 5 years, in case of its non-performance and/or non-compliance of the conditions of STP approval. Under such circumstances, the case will be referred to DGFT for taking penal actions against the unit. The Custom Authority will also be intimated for recovery of necessary duties from the cancelled unit.


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