https://www.taxtmi.com/news?id=3345 Two SEZs in Nagaland have approval with one notified but not operational. Under Rule 6, approval is valid for three years subject to implementation steps and possible extension by the Board of Approval. SEZ units and developers must achieve Net Foreign Exchange (NFE) earnings cumulatively for five years from production commencement; failure to meet the NFE obligation attracts penal action under the Foreign Trade (Development and Regulation) Act, 1992. The Development Commissioner monitors SEZ units and developers per the SEZ Act, 2005 and Rules. en-us Wed, 16 May 2012 17:06:17 +0530 Wed, 16 May 2012 17:06:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3345 Two SEZs in Nagaland have approval with one notified but not operational. Under Rule 6, approval is valid for three years subject to implementation steps and possible extension by the Board of Approval. SEZ units and developers must achieve Net Foreign Exchange (NFE) earnings cumulatively for five years from production commencement; failure to meet the NFE obligation attracts penal action under the Foreign Trade (Development and Regulation) Act, 1992. The Development Commissioner monitors SEZ units and developers per the SEZ Act, 2005 and Rules. News - Wed, 16 May 2012 17:06:17 +0530 https://www.taxtmi.com/news?id=3345