What is SEZ?

  • SEZ is a specially designated duty free enclave deemed to be a foreign territory for the purpose of trade operations, duties and tariffs.

  • A Special Economic Zone (SEZ) is a geographical region that has economic laws more liberal than rest of the country’s general economic laws

  • SEZ Act and Rules were framed to attract foreign investments into India, encourage exports from India to bring in more and more foreign exchange into India.

  • All Goods and services supplied from Domestic Tariff Area (DTA) to SEZ are treated as deemed exports and all Goods and services supplied by SEZ units to Domestic Tariff Area (DTA) are treated as imports into India and subject to all procedures and rules applicable in case of normal imports into India.

  • SEZ’s are deemed to be a airport, port, Land Custom stations, and Inland container depot under the Customs Act.

  • SEZ Developers/Co-developers/Units are entitled for various fiscal/Non Fiscal incentives and benefits as per SEZ Act and Rules

  • Manufacturing, Servicing, trading, re-conditioning, repair etc are allowed in the SEZ’s.

  • SEZ policy was introduced in year 2000 under Export Import Policy, However SEZ Act was enacted in 2005 and passed by Parliament and rules was framed in 2006

Legislative Framework

SEZ Act 2005

Provides framework for the establishment, development and management of SEZ from promotion of foreign direct investments and encourage exports to earn foreign exchange.

SEZ Rules 2006

Provides guidelines for giving effect to the SEZ Policy and Act passed by parliament for operation and maintenance of SEZ within the framework of SEZ Act 2005.

State SEZ Act & Policy

These provides various policy framework in line with SEZ Act 2005 and Rules 2006 for providing various incentives, benefits and duties exemption at state level to various stakeholders.

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