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of <h1>SEZ Scheme: Boosting Exports with Duty-Free Imports, Self-Certification, and Positive Net Foreign Exchange Rules</h1> The Special Economic Zone (SEZ) Scheme, effective from April 1, 2000, aims to promote exports through simplified policies, treating SEZs as foreign territories for trade operations. Goods supplied to SEZs from the Domestic Tariff Area (DTA) are deemed exports, while imports from SEZs to DTA are treated as imported goods. SEZs can be established for manufacturing, services, and various other activities, allowing duty-free import of goods, including those on the restricted list, except prohibited items. SEZ units must achieve positive net foreign exchange earnings over five years. The scheme facilitates self-certification for import/export operations and allows for duty-free temporary removal of goods into DTA for specific purposes. SEZ units can also engage in subcontracting and inter-unit transfers, with specific provisions for gem and jewelry units. The scheme includes detailed procedures for duty remission, DTA sales, de-bonding, and maintenance of accounts, with monitoring by a committee. Penalties apply for defaults, and transitional arrangements are specified for converting Export Processing Zones to SEZs.
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