Addressing a recent Seminar on Incentives for SEZ Units, Customs, GST Issues, Recent Judgments, FTWZ Mr SJNHK Vara Prasad, IRS, Deputy Development Commissioner, Special Economic Zone, Government of India shed light on the diverse advantages and robust infrastructure available within Visakhapatnam Special Economic Zone.

He highlighted the readily available infrastructure, including land, buildings, connecting roads, and other common amenities within the SEZ, creating an ideal environment for business operations.

For businesses considering setting up a new unit in the SEZ, Mr. Vara Prasad emphasized the expeditious pre-approval process through the Single Window Mechanism, facilitating priority approvals from key regulatory bodies such as the Andhra Pradesh Pollution Control Board (APPCB), Department of Factories, Prohibition & Excise, Visakhapatnam Urban Development Authority (VUDA), Greater Visakhapatnam Municipal Corporation (GVMC), and Labour Licenses.

Dr P P Lal Krishna, Chairman, CII Visakha- patnam said the introduction of key measures such as a standardized method for calculating Net Foreign Exchange, a uniform list of services to SEZs, and the delegation of powers to Development Commissioners for seamless shifting of SEZ units within their jurisdiction showcases the government’s commitment to simplifying processes and fostering a conducive business environment.

Additionally, the guidelines for the clearance of abandoned goods and uncleared cargo in Free Trade Warehousing Zones (FTWZs) are instrumental in promoting efficient logistics operations.

Dr. Lal Krishna underscored that these progressive initiatives align with the goals of the business community and will undoubtedly contribute to making SEZs more attractive for investments and business expansion. 

Mr Anil Bezawada Convenor, Finance & Taxation Panel, CII Visakhapatnam shed light on various nuances, emphasizing the eligibility of SEZ units for GST refunds. 

Ch S S Sekhar, Regional Director of SEZ Units, Visakha- patnam Special Economic Zone along with Mr Grandhi Rajesh, participated.