The Ministry of Commerce & Industry has notified the Special Economic Zones (Third Amendment) Rules, 2023. An amendment has been made to the Special Economic Zones Rules, 2006. A new rule 29B has been inserted to the existing rules. The rule outlines the procedure for importing, exporting, procuring from or supplying ship to the Domestic Tariff Area by an IFSC Unit. Consequently, any unit set up in the IFSC and approved by the IFSCA, must follow the procedure provided individually for all the above scenarios. This notification shall be effective from 04.07.2023.
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