Notification from RBI

[Pradeep Ahuja]

Can Banks provide Buyers Credit from Imports from an SEZ unit. Sales from SEZ unit is taxed as a normal import as SEZ is a notified port. Is there any notification from RBI covering such imports.

AI Summary

Banks Can Offer Buyers Credit for SEZ Imports Using Standard Procedures Despite Taxation as Normal Imports A query was raised regarding whether banks can provide buyers credit for imports from a Special Economic Zone (SEZ) unit, considering sales from an SEZ are taxed as normal imports. The response clarified that since SEZs are located in India, standard banking procedures apply to the sale and purchase of goods from these zones.