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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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Exit from Special Economic Zone requires payment of duties and taxes and may attract penalty if Net Foreign Exchange is negative.</h1> 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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