Definition of special economic zone aligned with SEZ Act and conditions made mutually exclusive under the customs tariff provision. The amendment revises sub section (6) to make the two qualifying conditions mutually exclusive and substitutes an Explanation aligning the terms hundred ... Summary
Definition of special economic zone aligned with SEZ Act and conditions made mutually exclusive under the customs tariff provision.
The amendment revises sub section (6) to make the two qualifying conditions mutually exclusive and substitutes an Explanation aligning the terms hundred per cent. export-oriented undertaking with the Central Excise definition and special economic zone with the Special Economic Zones Act meaning, thereby harmonising terminology for application of the Customs Tariff provision.
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