The Ministry of Commerce and Industry issued Notification No. G.S.R. 314(E) on June 06, 2024, amending the Special Economic Zones Rules, 2006. The amendment, titled Special Economic Zones (Third Amendment) Rules, 2024, specifies the procedures for importing, exporting, or procuring aircraft or aircraft engines by a Unit in International Financial Services Centre from or to the Domestic Tariff Area. This change, effective upon publication, replaces references to “aircraft” in rule 29A with “aircraft or aircraft engine.”
In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely: –
These rules may be called the Special Economic Zones (Third Amendment) Rules, 2024.
They shall come into force on the date of their publication in the Official Gazette.
In rule 29A of the Special Economic Zones Rules, 2006, for the word “aircraft” , wherever it occurs, the words “aircraft or aircraft engine” shall be substituted.
The Notification can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/Department_of_Commerce-_NOTIFICATION_6.6.2024.pdf