Sez Rules

Looking at liberalising some restrictions on SEZ units, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Wednesday said the government is looking at easing certain restrictions for units in the special economic zones (SEZ) to promote the sector's growth. SEZs in India are treated as foreign territories for trade and customs duties, with restrictions on duty-free domestic sales. "We are looking at ways and means to liberalise some of these restrictions on SEZ units. It's under consideration...We are discussing it with all the stakeholders and hopefully that itself will give a significant boost to the SEZ units," Goyal said here at an industry chamber function. Regarding the industry's demand to extend benefits of the Remission of Duties or Taxes on Export Products (RoDTEP) Scheme to SEZs, he said the ministry will go about it "cautiously". "At some point in time we will consider it once we are very confident that it will not lead to WTO non-compliance," he added. In these zones, the largest areas of exports are petroleum products and ...

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Section 4(1) of the Competition Act, 2002 says that no enterprise or group shall abuse its dominant position

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You can claim interest on the pre-deposit amount in accordance with Section 129EE of the Customs Act, 1962

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Centre allows 100% WFH for IT units in SEZs till December 31, 2023

The new rule states that a unit will have to only maintain the lists of employees who are allowed to follow WFH or from any place outside SEZs

Govt plans infrastructure status for SEZs; move to ease financing norms

This will be done by giving them infrastructure status, at par with sectors to improve access to finance and enable long-term borrowing from lenders at easier terms

SME Chatroom: 'SEZ units need to be net foreign exchange earners'

SEZ units have to only achieve positive NFE and so the Customs need not demand refund of customs duty on the inputs

New SEZ law to focus on job creation and research, not foreign exchange

The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032

SEZ 2.0: Regional boards to track development hubs on the cards

The commerce and industry ministry is drafting a legislation for the next chapter for SEZs that will see development of large manufacturing and investment hubs

SME Chatroom: Purpose of shipping mark to enable package to be identified

If an LC specifies the details of a shipping mark, the documents mentioning the marks should show these details; additional information is acceptable provided it is not in conflict with the LC terms

It should take 4-6 months on final framework for new SEZ law: Goyal

The commerce ministry is holding consultations with all stakeholders on the proposal to replace the existing law governing SEZs with new legislation, Piyush Goyal said

FY23 Union Budget may rewrite SEZ law, says commerce ministry

He said India was also going to relaunch the FTA with Israel by March-April next year.

Delay in Noida SEZ deepening economic crisis amid lockdown: Exporters' body

'It may also lead to unemployment among over 50,000 workers working in Noida SEZ'

Commerce Ministry looking to revamp SEZ policy to facilitate exports

It has also discussed ways for implementation of the remaining recommendations of Baba Kalyani report on SEZ to facilitate ease of doing business in the present global market scenario

Pre-budget meet: IT industry seeks 15% corp tax for services cos in SEZs

Representatives from the IT, startups and mobile devices sectors met Finance Minister Nirmala Sitharaman to put forward their demands from the Budget next year

Vedanta's Odisha SEZ seeks govt approval to procure petroleum coke locally

Vedanta, an SEZ unit in Vedanta SEZ was granted letter of approval in April 2009 for manufacture of these products. The unit had commenced production in December 2015.

Commerce ministry panel suggests change in SEZ rules

Further, the panel has asked for setting up of an SEZ Rules Interpretation Committee

'SEZ rules will not make GST laws inapplicable in some cases'

This is because there is no conflict or inconsistency of any provision of SEZ laws with GST laws