Ordinance likely to amend SEZ Act for alignment with GST

Published on: 

The Government is likely to bring in an ordinance by next week to amend the SEZ Act to bring it in line with the GST, due on July 1. The commerce ministry is working on the same, a source said. Certain provisions in the special economic zone (SEZ) Act, 2005, are not consistent with the GST regime and need to be made compatible before the July 1 rollout date. For instance, the duty drawback norms, under which an exporter is compensated for duties during the course of production of goods, are required to be in sync with the new indirect tax structure.     

Daily Pioneer
dailypioneer.com