COVID-19 Update: Relaxation in compliance for SEZs
Blog: NASSCOM Official Blog
In view of the disruptions caused by COVID-19 pandemic, Department of Commerce, Ministry of Commerce and Industry has decided to provide certain relaxations in compliances to be met by units / developers / co‐developers of Special Economic Zones(SEZs). Such 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
- 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 5 year block for NFE assessment;
– Units which are yet to commence operations
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 / Co‐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 30.06.2020 or further instructions of the Department on the matter, whichever is earlier.
Recently, NASSCOM submitted a comprehensive list of compliances and schemes that may be extended by the Government of India. The measures announced are in line with NASSCOM’s recommendation with a view to provide much needed relief to the industry.
Trust the above update is useful
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