 "Commerce ministry panel suggests change in SEZ rules")
A commerce ministry-appointed panel has suggested that the Board of Approval (BoA), the highest decision making body for SEZs, should be given additional powers to exempt units and developers from certain rules to promote these zones.
Under the existing SEZ (special economic zones) rules, the BoA has no power to relax any rule. The inter-ministerial board BoA is headed by the commerce secretary.
“Even when the BoA considers it appropriate, it has to take approval of commerce and industry minister. Hence, wherever BoA feels that there is a genuine hardship to the trade and industry and relaxation in SEZ rule is required, it should be empowered to do so,” the committee said in its report.
In order to align the SEZ rules 2006 with the goods and services tax laws as well as for removal of various difficulties faced, the committee was constituted by the ministry to make necessary recommendations.
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