Star Export House and its Significance

• 22 February, 2021

What exactly is Star Export House? It is primarily an Indian Exporter that has managed to achieve a well-defined degree of international commerce in less than five years. A well certified IE code is supposed to be procured by the companies in order to ascertain the qualities of the services. Once the code aforementioned is allotted to any of the companies, the companies enjoy a lot of privileges which are otherwise denied to the uncertified companies. Since Surgeine Healthcare has been following all the instructions laid down for the medical companies effectively, it has rightly been given the Star Export House certification.

Benefits and Privileges enjoyed by Surgeine Healthcare–

1. Surgeine Healthcare, as an authorized company, can enjoy the benefit of clearing the imports and exports on custom basis.
2. Surgeine Healthcare is also not supposed to comply by the bank guarantee schemes under FTP, also known as Foreign trade Promotion.
3. Moreover, it is interesting to underline here that Surgeine Healthcare can exempt itself from all sorts of banking negotiations as far as remittance and receipts are concerned.
4. Surgeine Healthcare, can also establish its export warehouses as is permitted under the Revenue guidelines’ Department.
5. As per CBEC, i.e. Central Board of Excise and Customs, Surgeine Healthcare can draw some benefits from Accredited Clients Program.
6. Surgeine Healthcare, along with all other companies registered under Government of India Stat Export House, is given priority-based treatment while managing the official consignments.
7. Up-to a pre-decided limit of Rs. 10 lakh or a miniscule ratio of 2% of overall annual export (whichever is higher), Surgeine Healthcare can legally export a lot of exportable items without any additional costs.
8. All the exporters involved in the process of manufacturing process can very well certify their own goods.

What makes the Star Export House’s Certification significant?

All the companies that have been awarded with Star Export House Certification by the Government are known to be extremely beneficial ones that have added to the economic stature of the nation. It is also worthwhile to mention here that this certification is applicable to all forms of goods, technologies as well as services that have a credible Import-Export Code.

How did Surgeine Healthcare obtain this highly deemed Certification?

Any company that has given commendable import and export performance in the existing and the previous two financial years. In order to calculate it, FOB i.e. Free On-Board value of the earnings by export has to be ensured. The value is then converted from INR to USD by CBEC (Central Board of Excise and Customs). It is calculated from the 1st date of April of all the financial years.

Different status is ascribed to different aspects of performance as per the following standard-

–1 Star Export House- USD3-USD25 Million Export Performance

-2 Star Export House- USD25-USD100 Million Export Performance

-3 Star Export House- USD100-USD500 Million Export Performance

-4 Star Export House- USD500-USD2000 Million Export Performance

-5 Star Export House- USD2000 and above Million Export Performance

Conclusion-

Since Star Export House Status is highly aspirational for all the Indian Companies, it is indeed a matter of great pride for Surgeine Healthcare for having claimed it. It also speaks volumes about its performance and its adherence to international standards of hygiene, packages as well as manufactures.