Source: The Economic Times, Oct 02, 2018
New Delhi: The government has amended the rules governing special economic zones (SEZ) to align them with the goods and services tax (GST).
The new rules permit merger of units in the same zone and do away with the minimum area requirement to set up biotechnology and health SEZs.
SEZ units can now export prohibited goods as long as the goods used for manufacture are imported.
The new rules have also simplified the procedure for claiming drawbacks. Instead of the earlier requirement of submitting the ARE-1 or application for removal of excisable goods for export by air, sea, post, land form to claim refund, exporters now need to submit only the bill of export. Read the rest of this entry »