Govt plans SEZ services forex rule relief
New Delhi: The commerce and industry ministry is working on a Cabinet note to redefine services by doing away with the condition that mandates service exports from special economic zones (SEZs) to earn foreign exchange when they supply to areas outside the zones, called the domestic tariff area (DTA).The current provision under Section 2(z) of the SEZ Act, 2005 mandates that proceeds for SEZ to DTA supplies of services must be realised in foreign exchange, although there is no such requirement in case of supply of goods to DTA entities."The SEZ Act requires realisation in foreign exchange for