MANU/COMM/0103/2023

Ministry : Ministry of Commerce and Industry

Department/Board : Commerce

Notification No. : GSR481(E)

Date of Notification : 04.07.2023

Date of Publication : 05.07.2023

Notification/ Circulars Referred : Notification number G.S.R. 54(E), dated the 10th February, 2006 MANU/COMM/0016/2006;Notification number G.S.R. 334(E), dated the 27th April, 2023 MANU/COMM/0071/2023

Citing Reference:
Notification No. 22/4/2023 dated 30.06.2023 MANU/COMM/0096/2023  Referred

Special Economic Zones (Third Amendment) Rules, 2023

G.S.R.481(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.     (1) These rules may be called the Special Economic Zones (Third Amendment) Rules, 2023.

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

2. In the Special Economic Zones Rules, 2006, after rule 29A, the following rule shall be inserted, namely:-

'29B. Procedure of import or export or procurement from or supply to Domestic Tariff Area of ship by a Unit in International Financial Services Centre- 

(1) Notwithstanding anything in rule 29, the Unit setup in the International Financial Services Centre approved by the International Financial Services Centre Authority (in this rule referred to as "the Unit"), importing ship shall follow the procedure as given below, namely:-

(a) the Unit in the International Financial Services Centre shall file Bill of Entry for home consumption in quintuplicate giving therein, description with specially stamped endorsement as "International Financial Services Centre Cargo" along with invoice and packing list through online system with the Authorised Officer who shall register and assign a running annual serial number and assess the Bill of Entry, on the basis of transaction value, which shall not require any counter signature of the Specified Officer;

(b) while filing the bill of Entry, the entity shall indicate........