VIKAS ECOTECH LIMITED Receives Prestigious “Authorized Economic Operator” (AEO-T1) Certification for Exports from Central Board of Indirect Taxes & Customs
Deepthi | Myequity news | Date : 29-10-2018 13:05:00 IST
Vikas EcoTech Limited has received the prestigious “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 up to October, 2021. About Vikas Ecotech Limited:
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. 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.
Vikas Ecotech is an emerging player in the global arena of high-end specialty chemicals. An integrated, multi-specialty product solutions company, it produces a wide variety of superior quality, eco-friendly additives and rubber-plastic compounds. Its additives and rubber-plastic compounds are process-critical and value-enabling ingredients used to manufacture a varied cross-section of high-performance, environment-friendly and safety-critical products. From agriculture to automotive, cables to electricals, hygiene to healthcare, polymers to packaging, textiles to footwear, the company’s products serve a diverse range of global industry needs.