The Board of Approval (BoA) for Special Economic Zones (SEZs) ...

BoA for SEZs: Co-devs, area changes, de-notification, validity extensions, conversions & misc. approved with caveats like Act/Rules compliance, tax examination & lease periods.

Circulars     SEZ

August 6, 2024

The Board of Approval (BoA) for Special Economic Zones (SEZs) considered various proposals related to SEZs, including requests for co-developer status, increase/decrease in area, de-notification, extension of validity, conversion of processing to non-processing area, and miscellaneous matters. The key decisions were: Approving co-developer proposals with conditions like adherence to SEZ Act/Rules, taxability examination, and lease period compliance. Permitting decrease/increase in co-developer area and partial surrender, subject to duty/tax repayments and undertakings. Allowing de-notification of entire SEZs and processing area conversion to non-processing u/r 11B, with duty/tax remittances and differential payment undertakings. Granting extensions of validity for developers/units, some deferred. Approving proposals related to restricted items, gate construction, demarcation requests, and transfer of approvals, with some deferred for next meeting. Decisions on appeals were deferred to enable parties to present through video conferencing.

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