Source: The Economic Times, Mar 10, 2019
NEW DELHI: The government has amended the rules governing special economic zones (SEZ) to include value addition earning norms along with the existing positive net foreign exchange earning requirement to setup a unit, and prescribed criteria while renewing its validity.
As per the updated rules, the “prescribed value addition earning requirement” will apply in the proposal to setup a unit in an SEZ, besides the positive net foreign exchange earning requirement.
The government also said that in case an application is submitted after a period of two months, “reasonableness of the delay shall be examined on the merits and circumstances of the case”. Read the rest of this entry »