Auto-renewal for tier 1 AEO license
AEOs are importers or exporters involved in international movement of goods that opt for the AEO certification programme. The certification is internationally recognised and gives such companies benefit of reduced time of clearance, lower costs and minimal disruption in cargo flow through customs, as they're considered secure and reliable trading partners.
The Central Board of Indirect Taxes and Customs (CBIC) has done away with renewal of authorised economic operator (AEO) certification after every three years for Tier 1 or T1 level entities, it said in a notification issued Saturday.
From August 1, all such entities certified on or after April 1, 2019 shall be auto renewed in the system, without any end date, the Board said.
The Board said that facility of continuous AEO certification or auto renewal for such entities will be subject to submission of annual self-declaration between October 1 and December 31 each year, and review.
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