SEZ SCHEME – Introduction

 Special Economic Zone (SEZ) Scheme is introduced by the Government with the objectives to provide an internationally competitive and hassle-free environment for earning foreign exchange & foreign direct Investment (FDI).
Features of the SEZ Scheme – SEZ is considered to be foreign territory for the purpose of trade operations, duties and tariffs.
In earlier days 100% EOU Policy was introduced by the Government, SEZ Acts & Rules are also made on the similar benefits after addition, deletions & modifications of some regulations & procedures. It is nevertheless to mention here that similar procedure is applicable to SEZ that all the Goods & services supplies made in to SEZ from Domestic Tariff Area (DTA) are treated as deemed exports & similar way all the goods & services supplied from the SEZ are to be treated as freely importable under the FTP in INDIA against payment of all applicable duties, provided they have to fulfil & follow all procedure.