Topics In Demand
Notification
New

No notification found.

Blog
COVID-19 Update: Relaxation in compliance for SEZs

March 31, 2020

1712

0

In view of the disruptions caused by COVID-19 pandemic, Department of Commerce, Ministry of Commerce and Industry has decided to provide certain relaxations in compliances to be met by units / developers / co?developers of Special Economic Zones(SEZs). Such compliances to which the relaxations will apply, include:

  1. Requirement to file Quarterly Progress Report (QPR) attested by Independent Chartered Engineers by Developers/ Co?developers.
  2. SOFTEX form to be filed by IT/ITES units –
  3. Filing of Annual Performance Reports (APR) by SEZ units
  4. Extension of Letter of Approvals (LoA) which may expire, in the cases of:

– Developers/co?developers who are in the process of developing and operationalising the SEZ;

– Units which are likely to complete their 5 year block for NFE assessment;

– Units which are yet to commence operations

Development Commissioners of SEZs have been directed to ensure that no hardship is caused to Developers /Co?Developer /Units and no punitive action is taken in cases where any compliance is not met during this period impacted by the above disruption.

Further, as may be possible, all extensions of LoAs and other compliances may be facilitated through electronic mode in a time?bound manner.

In cases where it is not possible to grant extension through electronic mode or in cases where a physical meeting is required, Development Commissioners have been asked to ensure that the Developer / Co?developer / Units do not face any hardship due to such expiry of validity during this period of disruption.

Ad?hoc interim extension / deferment of the expiry date may be granted without prejudice till 30.06.2020 or further instructions of the Department on the matter, whichever is earlier.

Recently, NASSCOM submitted a comprehensive list of compliances and schemes that may be extended by the Government of India.  The measures announced are in line with NASSCOM’s recommendation with a view to provide much needed relief to the industry.

Trust the above update is useful


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Download Attachment

22696-moci---sez-relaxations.pdf

Tejasvi

© Copyright nasscom. All Rights Reserved.