Exit from Special Economic Zone requires payment of duties and taxes and may attract penalty if Net Foreign Exchange is negative. Exit from a Special Economic Zone requires approval and payment of applicable duties and taxes on capital goods, raw materials, components, consumables, ... Summary
Exit from Special Economic Zone requires payment of duties and taxes and may attract penalty if Net Foreign Exchange is negative.
Exit from a Special Economic Zone requires approval and payment of applicable duties and taxes on capital goods, raw materials, components, consumables, spares and finished goods in stock; units lacking positive Net Foreign Exchange face penalty and must execute a legal undertaking in Form L. Demarcation of non-processing areas in IT/ITES SEZs is permitted under conditions. Gems and jewellery units must transfer precious materials to a nominated agency at an agency-determined price. A one-time exit may be permitted on payment under the Export Promotion Capital Goods scheme subject to eligibility.
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