https://www.taxtmi.com/article/detailed?id=10075 SEZ units must meet export obligations and maintain a positive Net Foreign Exchange position cumulatively over the block period; SEZ Rules require Annual Performance Reports and empower the Development Commissioner and Approval Committee to initiate show cause proceedings and penal action under the Foreign Trade Act where NFE is negative across prescribed years or where approval conditions or APR disclosures are breached. In the reported case the unit's APRs recorded negative NFE, alleged misstatements and asset disposals, prompting administrative penalties and directions for fresh APRs as contemplated by the rules. en-us Mon, 15 Nov 2021 09:10:53 +0530 Mon, 15 Nov 2021 09:10:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10075 SEZ units must meet export obligations and maintain a positive Net Foreign Exchange position cumulatively over the block period; SEZ Rules require Annual Performance Reports and empower the Development Commissioner and Approval Committee to initiate show cause proceedings and penal action under the Foreign Trade Act where NFE is negative across prescribed years or where approval conditions or APR disclosures are breached. In the reported case the unit's APRs recorded negative NFE, alleged misstatements and asset disposals, prompting administrative penalties and directions for fresh APRs as contemplated by the rules. Articles Customs - Import - Export - SEZ Mon, 15 Nov 2021 09:10:53 +0530 https://www.taxtmi.com/article/detailed?id=10075