Special Economic Zone rules updated to require fortnightly approvals, authorised challans, export repair limits, and identity card controls. Amendments empower the Central Government to prescribe guidelines for SEZ development and require the Approval Committee to meet fortnightly. State Trading Enterprise restrictions do not apply to SEZ manufacturing units, while iron ore exports remain conditionally regulated. Goods sent out for repairs must return within a prescribed period and replacements do not qualify for export incentives. Units must repay drawback or duty credit for goods destroyed except when procured against foreign exchange. Movements between SEZ areas must use pre authenticated serially numbered challans. Identity cards for entrepreneurs and regular employees are issued in Form K for a fixed term and must be surrendered on cessation of employment or loss of Letter of Approval.
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Special Economic Zone rules updated to require fortnightly approvals, authorised challans, export repair limits, and identity card controls.
Amendments empower the Central Government to prescribe guidelines for SEZ development and require the Approval Committee to meet fortnightly. State Trading Enterprise restrictions do not apply to SEZ manufacturing units, while iron ore exports remain conditionally regulated. Goods sent out for repairs must return within a prescribed period and replacements do not qualify for export incentives. Units must repay drawback or duty credit for goods destroyed except when procured against foreign exchange. Movements between SEZ areas must use pre authenticated serially numbered challans. Identity cards for entrepreneurs and regular employees are issued in Form K for a fixed term and must be surrendered on cessation of employment or loss of Letter of Approval.
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