Special economic zone notification under customs law: earlier goods admitted were treated as outside India's customs territory for duties. Section 76A of the Customs Act, 1962, relating to notification of special economic zones, was inserted by the Finance Act, 2002 and later omitted by the Finance Act, 2007. The earlier provision empowered the Central Government to notify specifically delineated special economic zones, and goods admitted there were treated, for customs duty purposes, as outside the customs territory of India.
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Special economic zone notification under customs law: earlier goods admitted were treated as outside India's customs territory for duties.
Section 76A of the Customs Act, 1962, relating to notification of special economic zones, was inserted by the Finance Act, 2002 and later omitted by the Finance Act, 2007. The earlier provision empowered the Central Government to notify specifically delineated special economic zones, and goods admitted there were treated, for customs duty purposes, as outside the customs territory of India.
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