Category: Industry Overview
Commerce Ministry amended 16 rules governing SEZ, to meet the demands of exporters and developers who work on SEZs. The amends provide relief on reimbursement of duty through Duty Drawback Scheme to suppliers outside SEZ, even in rupee payment. These benefits so far enjoyed by contractors and developers have also been extended to sub-contractors. The amended rules also allow developers to provide housing facilities for workers and staff, apart from management in tax-free enclaves. Some relief have also been provided to affected sectors viz. Gems, jewellery sector to bring back goods into SEZ in case of quality issues or refusals. Exports from SEZ so far has crossed 12 billion dollars.