Department of Commerce provides relaxations on compliances for SEZs
The compliances to which the relaxations will apply, include requirement to file Quarterly Progress Report
The Department of Commerce has decided to provide suitable relaxations on compliances to be met by units/developers/co-developers of special economic zones (SEZs) in view of the sudden outbreak of COVID-19 pandemic and the nationwide lockdown.
The compliances to which the relaxations will apply, include requirement to file Quarterly Progress Report (QPR) attested by Independent Chartered Engineers by developers/co-developers, SOFTEX form to be filed by IT/ITES units, filing of Annual Performance Reports (APR) by SEZ units.
This also includes extension of letter of approvals (LoA) which may expire, in the cases of developers/co-developers who are in the process of developing and operationalising the SEZ, units which are likely to complete their five-year block for NFE assessment and units which are yet to commence operations.
The Development Commissioners of SEZs have been directed to ensure that no hardship is caused to developers/co-developer/units and no punitive action is taken in cases where any compliance is not met during this period impacted by the above disruption.
Further, as may be possible, all extensions of LoAs and other compliances may be facilitated through electronic mode in a time-bound manner. In cases where it is not possible to grant extension through electronic mode or in cases where a physical meeting is required.
Development Commissioners have been asked to ensure that the developer/do-developer/units do not face any hardship due to such expiry of validity during this period of disruption.
Ad-hoc interim extension/deferment of the expiry date may be granted without prejudice till 30 June 2020 or further instructions of the Department on the matter, whichever is earlier.