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.

[Surender Gupta]

For the purpose of sale and purchase of goods, the scheme of SEZ is envisaged. Since SEZ are located in India, normal banking procedure would be followed.

AI Summary

Buyer's credit for SEZ imports follows normal banking procedures as SEZ sales are treated as imports. Because SEZ sales are treated as imports and SEZs are located within the country, banks should apply normal banking procedure when assessing and providing buyer's credit for imports from SEZ units, per the regulatory reply.