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of <h1>SEZ Gold & Silver Duty Now at Effective Rate Like EOU/EPZ Units; Penalties for Evasion Apply. Public Notice Required.</h1> The circular addresses the assessment of duty on gold and silver in Special Economic Zones (SEZ). It clarifies that, unlike the Export Oriented Units (EOU) and Export Processing Zones (EPZ) where gold and silver are assessed at an effective duty rate as per notification No. 80/97-Cus, SEZ units were assessed at the tariff rate. The decision has been made to allow SEZ gem and jewellery units to also benefit from the effective duty rate. However, in cases of evasion or fraudulent activities, penalties will be imposed to match the tariff rate. Public notice of this change is required.
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