SEZ formal approval and co-developer approvals extended and conditioned to ensure operational progress and limited lease terms.
The Board approved multiple time-limited extensions of formal approvals and Letters of Permission for developers and units, directed Development Commissioners to monitor operational progress, approved several co-developer statuses for specified areas and authorized operations subject to SEZ Act and Rules and a lease cap of thirty years (renewable), sanctioned one sector-specific SEZ proposal for chemicals and pharmaceuticals, deferred and conditioned certain miscellaneous proposals (including an import permission and area expansion), rejected appeals for lack of evidence or as time-barred, and reiterated the uniform list of default authorized operations.

Precious metals sourcing: loaned imports for SEZ units must be routed through nominated agencies, clarifying Rule 27(6) compliance.
The Department of Commerce clarifies that the requirement to source through nominated agencies applies specifically to precious metals imported by SEZ units on a loan basis, narrowing the prior broader wording so that only loaned imports of precious metals must be procured via nominated agencies and directing Development Commissioners to implement this interpretation for uniform compliance under Rule 27(6).

Change of shareholding in SEZ units conditioned on continuity, eligibility, tax compliance and disclosure to revenue authorities.
The BoA granted extensions of formal approvals and LOPs in select matters, approved multiple co-developer applications for IT/ITES infrastructure subject to co-developer agreements and standard SEZ Act conditions including a maximum lease period of 30 years (renewable), and approved change of shareholding or constitution requests subject to continuity of SEZ activities, fulfilment of eligibility and security clearances, compliance with revenue and company laws, immediate furnishing of financial and PAN/AO details to CBDT, and recognition of the Assessing Officer's right to assess taxability of gains from equity transfers; amendments to SEZ Rules to clarify such transactions were directed to be pursued.

Sourcing of precious metals must be through nominated agencies for SEZ units under Rule 27(6), enforced strictly.
SEZ units importing precious metals on a loan basis must source those metals exclusively through nominated agencies in strict compliance with Rule 27(6) of the SEZ Rules, 2006, following observed non compliance particularly among gem and jewellery units and directed for immediate enforcement by SEZ authorities.

Gold content limit imposed: exported gold jewellery allowed only up to specified maximum purity; applies to SEZ and export units.
The Foreign Trade Policy amendment restricts export of gold jewellery, partly processed jewellery and related articles containing gold of eight carats and above to a prescribed maximum purity ceiling. The amended export eligibility applies to domestic tariff area exporters and to EOU/EHTP/STP/BTP units, and an instruction applies the same restriction Mutatis Mutandis to Special Economic Zone units from the notification date.

SEZ approval extensions limited to demonstrable development progress and conditional restructurings requiring continuity and disclosure.
Board of Approval addressed SEZ procedural governance: extensions of formal approvals and LoPs were permitted only upon demonstrable development progress or justified reasons and within time-limited increments; co-developer approvals were authorised subject to standard SEZ Act/Rules and lease-term limits; changes in shareholding, ownership or name were allowed conditioned on continuity of operations, fulfilment of eligibility and security clearances, compliance with Revenue/Company/SEBI rules, immediate financial disclosure to Member (IT), CBDT and tax authorities, and adherence to State laws; lapsed formal approvals were cancelled where no extension was sought.

SEZ approvals and transfers: continuity maintained while ownership/name changes require strict compliance and financial disclosure.
The BoA approved extensions of formal approvals and LoPs for specified SEZ projects with time limits, rejected two in principle extension requests, approved a co developer application, authorised changes of name and transfers of shareholding subject to uniform conditions - including seamless continuity of SEZ activities, fulfilment of eligibility and security clearances, compliance with Revenue/Company/SEBI rules, immediate furnishing of full financial details to Member (IT), CBDT and jurisdictional authority, provision of PAN and assessing officer details to CBDT, and recognition of the Assessing Officer's right to tax assessments; directed consideration of SEZ Rules amendment; approved area increases and an FTWZ declaration; rejected one appeal and deferred another for legal advice.

Special Economic Zone approvals conditioned on contiguity, encumbrance clearance, and compliance with SEZ procedural requirements.
The Board approved multiple proposals for new SEZs and FTWZs and numerous co-developer arrangements, subject to conditions including compliance with State legal requirements during land acquisition, demonstration of fulfillment of the contiguity requirement at notification, settlement of specified encumbrances prior to notification, adherence to co-developer agreements, and standard terms under the SEZ Act and Rules. Changes in shareholding were approved on conditions preserving continuity of SEZ activities, compliance with tax and company laws, disclosure to revenue authorities, and eligibility safeguards for fiscal benefits.

Extension of SEZ approvals and LoPs permitted with Board-imposed continuity, disclosure and compliance conditions for developers and units.
The Board extended validity of multiple formal approvals and LoPs for SEZ developers and units, emphasising extensions only after demonstrable progress and permitting one-year extensions as a norm. It approved co-developer roles and numerous sector-specific IT/ITES SEZs subject to SEZ Act and Rules, and allowed changes in shareholding/ownership on conditions of seamless continuity, fulfillment of eligibility (including security clearances), immediate disclosure of financial details to Member (IT), CBDT and jurisdictional authorities, and the Assessing Officer's right to assess taxability of resulting gains or losses.

SEZ in a port or airport permits multi sector manufacture and services, allowing units for trading and warehousing.
The circular clarifies that a Special Economic Zone in a port or airport is defined to permit manufacture of goods falling in two or more sectors, trading, warehousing and rendering of services; therefore units may be set up for multi sector manufacturing as well as trading, warehousing and services. It also reiterates procedural requirements for SEZ establishment, including proposal submission, state forwarding with compliance to rule 5, and Board approval subject to minimum area and conditions.

NFE calculation: warehousing on behalf of foreign supplier excludes goods' value, purchased-and-sold goods are included.
Where an FTWZ unit holds goods in an SEZ warehouse on behalf of a foreign supplier as a warehousing service, the value of those goods is excluded from the NFE calculation under the SEZ Rules provision for rendering services. Conversely, where the FTWZ unit purchases and sells goods, the value of goods held in the SEZ warehouse is included in the NFE calculation under the SEZ Rules provision applicable to sale of goods by units.

Special Economic Zones: extensions of approvals, SEZ merger approved, co developer and shareholding changes granted with conditions.
The Board issued time limited extensions of formal approvals and Letters of Permission for multiple SEZ developers and units, deferred or required hearings/inspections where operational progress was lacking, approved co developer arrangements subject to prohibition of duty benefits outside SEZs and a maximum 30 year lease, approved several new sector specific SEZs while deferring those lacking state recommendations, authorised a multi SEZ merger conditioned on contiguity, and approved change of shareholding requests subject to continuity, eligibility, tax compliance and disclosure to revenue authorities.