DGFT Trade Notice: Mandatory Monthly NFE Filing for SEZ Units 2024

The Directorate General of Foreign Trade (DGFT) has emphasized the critical requirement for Special Economic Zone (SEZ) units and developers to ensure accurate filing of their Annual Performance Reports (APR) and monthly monitoring of Net Foreign Exchange (NFE) earnings. This requirement, governed by the SEZ Rules and Foreign Trade Policy 2023, is essential for maintaining the operational validity of the unit. Non-compliance in reporting NFE can lead to the suspension of benefits or difficulty in renewing Letters of Approval (LoA). As per DGFT guidelines, exporters must ensure that their portal data matches the physical records submitted to Development Commissioners. This ensures that the cumulative NFE remains positive, a prerequisite for the tax and duty concessions enjoyed within the zone. ## What this means for exporters Exporters operating under the SEZ framework must conduct internal audits of their NFE calculations. Proper documentation of foreign exchange realization via the eBRC module is now more critical than ever to avoid discrepancies during the reconciliation process conducted by the authorities. Units should proactively verify their filings on the SEZ Online portal to ensure seamless extension of their functional status and to safeguard against any retrospective duty demands arising from miscalculations.