SEZ Rules

The new rule states that a unit will have to only maintain the lists of employees who are allowed to follow WFH or from any place outside SEZs

This will be done by giving them infrastructure status, at par with sectors to improve access to finance and enable long-term borrowing from lenders at easier terms

SEZ units have to only achieve positive NFE and so the Customs need not demand refund of customs duty on the inputs

The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032

The commerce and industry ministry is drafting a legislation for the next chapter for SEZs that will see development of large manufacturing and investment hubs

If an LC specifies the details of a shipping mark, the documents mentioning the marks should show these details; additional information is acceptable provided it is not in conflict with the LC terms

The commerce ministry is holding consultations with all stakeholders on the proposal to replace the existing law governing SEZs with new legislation, Piyush Goyal said

He said India was also going to relaunch the FTA with Israel by March-April next year.

'It may also lead to unemployment among over 50,000 workers working in Noida SEZ'

It has also discussed ways for implementation of the remaining recommendations of Baba Kalyani report on SEZ to facilitate ease of doing business in the present global market scenario

Representatives from the IT, startups and mobile devices sectors met Finance Minister Nirmala Sitharaman to put forward their demands from the Budget next year

Vedanta, an SEZ unit in Vedanta SEZ was granted letter of approval in April 2009 for manufacture of these products. The unit had commenced production in December 2015.

Further, the panel has asked for setting up of an SEZ Rules Interpretation Committee

This is because there is no conflict or inconsistency of any provision of SEZ laws with GST laws