RBI rules of operational process with SEZ
According to Reserve Bank of India update as on 08th January 2021, the directions on Exports from SEZ, Exporter's banking formalities is given below:
C.19 Export of goods by Special Economic Zones (SEZs)
(i) Units in SEZs are permitted to undertake job work abroad and export goods from that country itself subject to the conditions that:
a) Processing / manufacturing charges are suitably loaded in the export price and are borne by the ultimate buyer.
b) The exporter has made satisfactory arrangements for realization of full export proceeds subject to the usual EDF procedure.
(ii) AD Category – I banks may permit units in DTAs to purchase foreign exchange for making payment for goods supplied to them by units in SEZs. Authorised Dealer Banks are permitted to sell foreign exchange to a unit in the DTA for making payment in foreign exchange to a unit in the SEZ for the services rendered by it (i.e. a unit in SEZ) to a DTA unit. It must be ensured that in the Letter of Approval (LoA) issued to the SEZ unit by the Development Commissioner(DC) of the SEZ, the provisions pertaining to the goods / services supplied by the SEZ unit to the DTA unit and for payment in foreign exchange for the same should be mentioned.
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