Vikas Ecotech Receives Authorized Economic Operator Certification
Vikas EcoTech Limited had announced that it has received the “Authorized Economic Operator” AEO-T1 certificate from the Central Board of Indirect Taxes& Customs (CBIC), Ministry of Finance, Government of India.
Additionally, the CBIC has stated that this certificate has been awarded in recognition & appreciation of VEL’s commitment to secure the international supply chain. The AEO-T1 certification for Vikas EcoTech is valid upto October, 2021.
The AEO programme aims at providing additional facilities to the legitimate companies/ traders who have demonstrated strong internal control system and willingness to comply with the laws administered by the CBIC. An entity with an AEO status can, therefore, be considered a ‘secure’ trader and a reliable trading partner.
The AEO certification is granted after a thorough check of a company’s general compliance, legal compliance, management of commercial and transport records, financial solvency and safety by the AEO Team of the CBIC. Vikas EcoTech is pleased to have received this certification, which endorses the company’s best practices, governance processes & financial health.
This AEO-T1 certification enables Vikas EcoTech to be known as one of India’s top-class exporters and shall be accorded a high level of facilitation in imports and export of all consignments, thereby ensuring shorter cargo release times. Another benefit of the AEO-T1 certificate is that Vikas EcoTech’s quantum of any required Bank Guarantee would be 50% of what would be needed to be furnished by a non-AEO Certificate Holder importer or exporter.