ABC Ltd., an exporter whose export turnover for the year ended 31st March, 2019 is ₹ 20.00 Lakhs, approaches you to discuss the conditions to be complied to become a Status Holder and to know about the privileges availab

Status holders With regard to the conditions to be complied to become status holder, M/s ABC Ltd is advised as below: Status recognition will depend on export performance. An applicant shall be categorized as status holder on achieving export performance during the current and previous three financial years (for Gems & Jewellery Sector the performance during the current and previous two financial years). The export performance will be counted on the basis of FOB of export earning in freely convertible foreign currencies. For granting status, export performance is necessary in at least two out of four years. Export Performance shall be as per table below: Status Category Export Performance FOB / FOR (as converted) Value (in US $ million) One Star Export House 3 Two Star Export House 25 Three Star Export House 100 Four Star Export House 500 Five Star Export House 2000 Grant of Double Weightage (a) The exports by IEC holders under the following categories shall be granted double weightage for calculation of export performance for grant of status. Micro, Small & Medium Enterprises (MSME) as defined in Micro, Small & Medium Enterprises Development (MSMED) Act 2006. Manufacturing units having ISO/BIS. Units located in North Eastern States including Sikkim and Jammu & Kashmir. Units located in Agri Export Zones. (b) Double Weightage shall be available for grant of One Star Export House Status category only. (c) A shipment can get double weightage only once in any one of above categories. Other conditions for grant of status (a) Export performance of one IEC holder shall not be permitted to be transferred to another IEC holder. Hence, calculation of exports performance based on disclaimer shall not be allowed. (b) Exports made on re-export basis shall not be counted for recognition. (c) Export of items under Authorisation, including SCOMET items, would be included for calculation of export performance. Accordingly, M/ABC Ltd is advised to go through the above stated conditions and determine its eligibility to become status holder.