What is sez ? Why is it imposed on goods ?
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According to the current norms, SEZunits have to pay the regular customs duty on a particular product if they sell it in the domestic market. This is because an SEZ is a specifically delineated duty-free enclave and is a deemed foreign territory for the purpose of trade operations, duties and tariffs.
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Sez stand for special economic zone. SEZ is specified democrated duty free territory, which for the purpose of trade operation is deemed to be considered outside the custom territory of India.
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