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of <h1>New SEZ Rules: Chapter XA Customs Act 1962 Treats SEZs as Foreign Territories for Trade, Effective August 15, 2003.</h1> The circular outlines the implementation of Chapter XA of the Customs Act, 1962, effective from August 15, 2003, which introduces new rules and regulations for Special Economic Zones (SEZs). SEZs will be treated as foreign territories for customs purposes, with supplies to and from Domestic Tariff Areas (DTA) considered as exports and imports, respectively. The SEZ Rules, 2003, and SEZ (Customs Procedure) Regulations, 2003, detail operational procedures, including duty exemptions, bond requirements, and monitoring by customs authorities. The circular rescinds previous notifications under the Central Excise Act, 1944, and emphasizes the need for SEZ units to comply with the new provisions.
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