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SEZ Glossary Words and Definitions.



SEZ Exim words Definitions

Exim wordsDefinitions
Applicant The person on whose behalf the application is made and shall, wherever the context so requires, include the person signing the application.
BOA The Board of Approval as notified by the Department of Commerce.
Capital Goods Any plant, machinery, equipment or accessories required for manufacture or production, either directly or indirectly, of goods or for rendering services, including those required for replacement, modernisation, technological upgradation or expansion. Capital goods also include packaging machinery and equipment, refractories for initial lining, refrigeration equipment, power generating sets, machine tools, catalysts for initial charge, equipment and instruments for testing, research and development, quality and pollution control. Capital goods may be for use in manufacturing, mining, agriculture, aquaculture, animal husbandry, floriculture, horticulture, pisciculture, poultry, sericulture and viticulture as well as for use in the services sector.
Competent Authority An authority competent to exercise any power or to discharge any duty or function under the Act or the Rules and Orders made thereunder or under this Policy.
Component One of the parts of a sub-assembly or assembly of which a manufactured product is made up and into which it may be resolved. A component includes an accessory or attachment to the component.
Consumables Any item, which participates in or is required for a manufacturing process, but does not necessarily form part of the end-product. Items, which are substantially or totally consumed during a manufacturing process will be deemed to be consumables.
Consumer Goods Any consumption goods, which can directly satisfy human needs without further processing and includes consumer durables and accessories thereof.
Counter Trade Any arrangement under which exports/imports from/to India are balanced either by direct imports/exports from the importing/exporting country or through a third country under a Trade Agreement or otherwise. Exports/Imports under Counter Trade may be carried out through Escrow Account, Buy Back arrangements, Barter trade or any similar arrangement. The balancing of exports and imports could wholly or partly be in cash, goods and/or services.
Developer A person or body of persons, company, firm and such other private or government undertaking, who develops, builds, designs , organises, promotes, finances, operates, maintain or manages a part or whole of the infrastructure and other facilities in the Special Economic Zones as approved by the central Government.
Development Commissioner The Development Commissioner of the Special Economic Zone.
DFRC Duty Free Replenishment Certificate.
Domestic Tariff Area Area within India which is outside the Special Economic Zones.
Drawback Relation to any goods manufactured in India and exported, means the rebate of duty chargeable on any imported material or excisable material used in the manufacture of such goods in India. The goods include imported spares, if supplied with capital goods manufactured in India.
EHTP Electronic Hardware Technology Park.
EOU Export Oriented Unit.
Excisable goods Any goods produced or manufactured in India and subject to a duty of excise under the Central Excise and Salt Act 1944 (1 of 1944).
Exporter A person who exports or intends to export and holds an Importer-Exporter Code number unless otherwise specifically exempted.
Export Obligation The obligation to export the product or products covered by the licence or permission in terms of quantity, value or both, as may be prescribed or specified by the licensing or competent authority.
Handbook (Vol.1) The Handbook of Procedures (Vol.1) and "Handbook (Vol.2)" means Handbook of Procedures (Vol.2) published under the provisions of the paragraph 2.4 of the Policy.
Importer A person who imports or intends to import and holds an Importer-Exporter Code number unless otherwise specifically exempted.
Infrastructure facilities Industrial, commercial and social infrastructure or any other facility for the development of the Special Economic Zone as notified.
ITC(HS) ITC(HS) Classifications of Export and Import Items Book.
Jobbing Processing or working upon of raw materials or semi-finished goods supplied to the job worker so as to complete a part or whole of the process resulting in the manufacture or finishing of an article or any operation which is essential for the aforesaid process.
Licensing Authority The authority competent to grant a licence under the Act/Order.
Licensing Year The period beginning on the 1st April of a year and ending on the 31st March of the following year.
Manufacture To make, produce, fabricate, assemble, process or bring into existence, by hand or by machine, a new product having a distinctive name, character or use and shall include processes such as refrigeration, re-packing, polishing, labelling. Re-conditioning repair, remaking, refurbishing, testing calibration, re-engineering. Manufacture, for the purpose of this Policy, shall also include agriculture, aquaculture, animal husbandry, floriculture, horticulture, pisciculture, poultry, sericulture, viticulture and mining.
Manufacturer Exporter A person who export goods manufactured by him or intends to export such goods.
MAI Market Access Initiative
Merchant Exporter A person engaged in trading activity and exporting or intending to export goods.
NFEP Net Foreign Exchange Earning as a percentage of exports.
Notification A notification published in the Official Gazette.
Order An Order made by the Central Government under the Act.
Part An element of a sub-assembly or assembly not normally useful by itself and not amenable to further disassembly for maintenance purposes. A part may be a component or an accessory.
Person An individual, firm, society, company, corporation or any other legal person.
Policy The Export and Import Policy, 2002-07 as amended from time to time.
Prescribed Prescribed under the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) or the Rules or Orders made thereunder or under this Policy.
Public Notice A notice published under the provisions of paragraph 2.4 of the Policy.
Raw material (i) basic materials which are needed for the manufacture of goods, but which are still in a raw, natural, unrefined or unmanufactured state; and
(ii) for a manufacturer, any materials or goods which are required for his manufacturing process, whether they have actually been previously manufactured or are processed or are still in a raw or natural state.
Registration-Cum-Membership Certificate (RCMC) means the certificate of registration and membership granted by an Export Promotion Council or other competent authority as prescribed in the Policy or Handbook (Vol.1).
Rules Rules made by the Central Government under Section 19 of the Act.
Services All the tradable services covered under General Agreement on Trade in Services and earning free foreign exchange.
Service Provider A person providing
(i) Supply of a ‘service’ from India to any other country;
(ii) Supply of a ‘service’ from India to the service consumer of any other country in India; and
(iii) Supply of a ‘service’ from India through commercial or physical presence in the territory of any other country.
(iv) Supply of a ‘service’ in India relating to exports paid in free foreign exchange.
SEZ Special Economic Zone notified by the Ministry of Commerce & Industry, Department of Commerce.
Ships All types of vessels used for sea borne trade or coastal trade and shall include second hand vessels.
SION Standard Input Output Norms notified by DGFT in the Handbook (Vol.2), 2002-07/approved by Board of Approval.
Spares A part or a sub-assembly or assembly for substitution, that is ready to replace an identical or similar part or sub-assembly or assembly. Spares include a component or an accessory.
Specified Specified by or under the provisions of this Policy.
Status holder An exporter recognised as "Export House/Trading House by DGFT/ Development Commissioner or Star Trading House/ Super Star Trading House" by the Director General of Foreign Trade.
STP Software Technology Park
Third-party exports Exports made by an exporter or manufacturer on behalf of another exporter(s). In such cases, shipping bills shall indicate the name of both the exporter/manufacturer and exporter(s).
Unit Approval Committee The Committee notified for Special Economic Zones to consider proposals on matters relating to Special Economic Zone unit under its jurisdiction.
Wild Animal Any wild animal as defined in Section 2(36) of the Wildlife (Protection) Act, 1972.
Zone Development Board The Zone Development Board notified for Special Economic Zones to consider matters relating to development, operation and maintenance of SEZs.

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What is New?

Date: 22-05-2020
Notification No. 47/2020-CUSTOMS (N.T.)
Appointment of CAA in case of in case of M/s Satnam Steels, Rajkot.

Date: 21-05-2020
Notification No.46/2020 - Customs (N.T.)
Exchange Rates Notification No.46/2020-Custom (NT) dated 21.05.2020.

Date: 19-05-2020
Notification No. 45/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 18-05-2020
Notification No. 43/2020-Customs (N.T.)
Appointment of CAA in case of M/s L & T Hydrocarbon Engineering Ltd & ors.

Date: 18-05-2020
NOTIFICATION No. 44/2020-Customs (N.T.)
Appointment of CAA in case of M/s Shilpa Medicare Ltd & ors.

Date: 16-05-2020
Notification No. 06/2015-2020-DGFT
Amendment in Export Policy of Masks

Date: 15-05-2020
Notification No. 42/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 14-05-2020
Notification No. 23/2020-Customs
Seeks to further amend Customs Notification No. 50/2017-Customs dated 30.06.2017 so as to extend the period of validity of existing Export Performance Certificates for FY 2019-20 up to 30.09.2020.

Date: 13-05-2020
Notification No. 05/2015-2020
Amendment in import policy conditions of Silver under Chapter 71 of ITC (HS), 2017, Schedule – I (Import Policy).

Date: 12-05-2020
PUBLIC NOTICE No. 05/2015-2020-DGFT
Procedure for availing Transport and Marketing Assistance (TMA) on Specified Agriculture Products-claims to be made on per Kilogram basis for the shipments by air regarding.



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