SEZ - Wholesome change is Special Economic Zone Rules, 2006

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....EZ - Wholesome change is Special Economic Zone Rules, 2006 <br>News and Press Release<br>Dated:- 8-2-2009<br><BR>Central Government has amended various provisions of Special Economic Zone Rules, 2006 vide notification no. G.S.R.72 (E).- dated 3-2-2009 (Special Economic Zones (Amendment) Rules, 2009). Though majority of the amendment are in the nature of correction of certain terms and procedures ....

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....to remove anomalies but certain amendments are important such as: 1. Developer or Co-Developer shall strive to provide adequate housing facilities not only for the management and office staff but also for the workers of the Special Economic Zones Units. [Rule 11(10)] 2. Reimbursement of duty in lieu of Drawback or Duty Entitlement Pass Book credit is allowed even if payment is made in Indian Rup....

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....ee [Rule 30(8)] Other amendments are highlighted as under Sr. No. SEZ Rules, 2006 Provision in brief Impact 1. 2(za) Meaning of multi-product SEZ Corrected 2. 10 Amendment regarding extension of benefit to the Contractors and Subcontractors for for procurement of items Corrected 3 11(4) Entry in the processing area of SEZ Development Commissioner is authorized to grant permission ....

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.... 4 11(10) Adequate Housing Facilities New provision, adequate housing facilities must be extended to worker of SEZ units also. 5 18(2) Registered Lease Deed shall be furnished to the Development Commissioner Consequences for failure to do so provided. 6. 19(2) Letter of Approval to a Unit Power of Approval Committee restricted 7. 19(7) Setting up branch operation in SEZ by foreign co....

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....mpanies. Reference to FEMA regulation corrected 8 28(7) Import of Goods for SEZ at port or airport Corrected 9 29(7) Re-import of Goods Benefit extended to allow re-import of exported goods under various circumstances 10 30(1) Procurement from DTA units Reference to excise notification number corrected 11 30(8) Reimbursement of duty in lieu of Drawback or Duty Entitlement Pass Boo....

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....k credit Benefit is allowed even if the payment is made in Indian Rupee 12 39(1) Destruction of goods Prior intimation of at least 7 days is required. 13 39(4) Benefit to be returned on destruction of goods Any other export incentive is also required to be returned in addition to Duty Drawback and DEPB 14 46(8) Re-import of unsold goods Period extended to 365 days 14 55 Form of App....

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....eal Corrected 15 56(1) Due date of filing an Appeal Appeal can be made within 30 days from the date of receipt of order instead of communication of order. 16 70(2) Surrender and Cancellation of Identity Cards Corrected<BR> News - Press release - PIB....