Concession and exemptions available to the developers of SEZs may be extended to codevelopers.
Expansion in scope of items exempt from customs duty, that are imported for setting up of a Special Economic Zone (SEZ) by zone developers and for installation in that zone by Zone Enterprises has been proposed. In the PCT Code 9917, Para (2), the words ‘plant and machinery’ are proposed to be replaced with ‘capital goods’. Whereas the definition of ‘capital goods’ in Part-1 of the Fifth Schedule to the Customs Act, 1969, has been expanded to include IT sector, storage, communication and infrastructure development of SEZs by Zone Developer.
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