Product Description

A policy for setting up of Special Economic Zones (SEZs) in the country with a view to provide an internationally competitive and hassle free environment for exports was introduced on April 1, 2000. Units may be set up in SEZ for manufacturing of goods and/or rendering of Services. All the import/export operations of the SEZ units will be on self-certification basis. The units in the Zone have to be a net foreign exchange earner but they shall not be subject to any predetermined value addition or minimum export performance requirements. Sales in the Domestic Tariff area by SEZ units shall be subject to payment of full custom duty and import policy in force. Further offshore banking unit may be set up in the SEZs.