Annual Self-declaration for Auto Renewal of AEO-T1 Status

 

The Authorised Economic Operator (‘AEO’) is a prestigious accreditation for organizations involved in Export-Import of goods. To ease the compliance burden of seeking renewal by AEO-T1 entities, the CBIC vide Circular No. 18/2021 dated July 31, 2021, has allowed the facility of auto renewal for AEO-T1 certificates. The auto-renewal is subject to submission of annual self-declaration to be filed between 1^st October to 31^st December every year.

 

We have provided below the update in brief:

 

·                The facility of auto-renewal has been provided to AEO-T1 entities certified on or after April 01, 2019.  

 

·                The details regarding the solvency, financial position, any adjudication etc. must be provided in the self-declaration.

 

·                Based on self-declaration, Zonal AEO program manager can initiate a Comprehensive compliance review and can approve or revoke (in case of adverse findings) the AEO-T1 certification.

 

·                AEO-T1 entities certified on or after January 01, 2021, are not required to submit the declaration for the present year. They will have to file the 1^st declaration between October 1, 2022, to December 31, 2022.

 

 | Remarks

 

·                It is suggested that AEO-T1 entities (certified on or after April 1, 2019) to file the self declaration immediately as December 31, 2021, is the last date.

 

·                Further, since AEO-T1 renewal are due for many entities, entities may go for AEO-T2 which is having much more benefits than AEO-T1.