Tuesday, December 15, 2009

CALCULATION OF NFE

The Ministry of Commerce & Industry has issued an instruction to all development commissioners clarifying that Net Foreign Exchange Earning (NFE) for SEZ units is to be calculated in rupee terms only. In case a unit claims that the NFE is negative due to foreign exchange fluctuations, the Approval Committee may consider the same, on case to case basis, provided the NFE computations are certified by the Authorized Banker of the unit.

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