Payment in Foreign Currency must for Duty Drawback for Supplies into FTWZ from DTA

[MoC Notification dated 23 October 2020]

G.S.R. 678(E).—In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely: -

1. Short title and commencement. -(1) These rules may be called the Special Economic Zones (Amendment) Rules, 2020.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Special Economic Zones Rules, 2006 (hereinafter referred to as the said rules), in rule 24, in sub-rule (3), after the proviso, the following proviso shall be inserted, namely: -

“Provided further that in case of supplies from Domestic Tariff Area to foreign suppliers in Free Trade and Warehousing Zone, the drawback or any other similar benefit Scheme shall be admissible where the payments are made in foreign currency by the foreign supplier to Domestic Tariff Area subject to sub-rule (5) of rule 18 of the said rules.”.

[F.No. G-3/1/2012-SEZ(PT)]