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Goods and Services Tax - Refund on Account of Supplies made to SEZ Unit/ SEZ Developer (Without Payment of Tax) 1. What are the preconditions for filing a refund application on account of supplies made to SEZ unit / SEZ developer (without payment of tax)? The following conditions must be met for being eligible to file the form RFD-01A to […]...
Read MoreGoods and Services Tax - An entrepreneur, who begins to manufacture or produce articles or things or provide any services during the period beginning from 1st April, 2005 to 31st March, 2020, shall be eligible to take a deduction under section 10AA with respect to the export turnover of his unit located in SEZ....
Read MoreGoods and Services Tax - Issue – 1 : All Suppliers to SEZ Units / SEZ Developers Need to Compulsorily Register under GST- Supplies to SEZ Units / SEZ Developers is treated as Inter-State Transaction as per provisions of Sec 7(5) of IGST Act, 2017. Therefore all such suppliers are Compulsorily Registration under GST irrespective of their Turnover as per Sec 24...
Read MoreGoods and Services Tax - By following the above principle of destination based taxation exports continue to remain zero rated and a similar benefit continues to be given to Special Economic Zones (SEZs) under GST law. While this benefit is extended to processing zones of the SEZs, sales from SEZ to Domestic Tariff Area (DTA) continue to remain taxed under GST sys...
Read MoreGoods and Services Tax - Defining export of service has been very tricky due to intangible nature of service transaction and contradictory provisions in GST Law. Due to this nature of services, there has been constant confusion regarding meaning of export of services and its ramifications in various types of transactions. Let us discuss here one such case of supp...
Read MoreGoods and Services Tax - Though imposition of Minimum Alternative Tax (MAT) in 2011 slowed down growth of special economic zones (SEZs), but implementation of Goods and Service Tax (GST) provides wonderful opportunity for making investments in Indian SEZs, a top Commerce Ministry official said at an ASSOCHAM event held in New Delhi today....
Read MoreGoods and Services Tax - A Mobile app named “SEZ India” has been launched by the Commerce Secretary on 06.1.2017. App would help SEZ Units and Developers to find information easily and track their transactions on SEZ Online System. ...
Read MoreGoods and Services Tax - Q 1. What is an EEFC Account and what are its benefits? Ans. Exchange Earners’ Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer Category – I bank i.e. a bank authorized to deal in foreign exchange. It is a facility provided to the foreign exchange earners, including exporte...
Read MoreGoods and Services Tax - FM: Role of IT Sector is Crucial in Order to Promote E-Governance for Empowering Citizens; to Promote the Inclusive and Sustainable Growth of the Electronics, IT and ITeS Industries and Enhancing India’s Role in Internet Governance...
Read MoreGoods and Services Tax - As per the original provisions under the Special Economic Zones (SEZs) Act, 2005 and Rules, 2006, exemption from Minimum Alternate Tax (MAT) in the case of SEZ Developers and Units as also the exemption from Dividend Distribution Tax (DDT) for SEZ Developers were granted....
Read MoreRoxul Rockwool Insulation India Pvt Ltd Vs UOI (Gujrat High Court) - Can SEZ unit claim exemption from CVD when cleared to DTA based on an Exemption Notification issued under Section 5A of CEA’1944 although when there is specific bar under Section 5A for SEZ units?...
Read MoreCommissioner of Income Tax, Cochin Vs Electronic Controls & Discharge Systems (P) Ltd (Kerala High Court) - Commissioner of Income Tax, Cochin Vs Electronic Controls & Discharge Systems (P) Ltd [2011] 13 Taxmann.com 193 (Kerala High Court)- Benefit of deduction under Section 10A is not available in respect of sales made to a unit in Special Economic Zone even though such sales are considered as ‘deemed ...
Read MorePortescap India P. Limited Vs. DCIT (ITAT Mumbai) - Manufacturing of a new product with a new technology at the same place after taking a fresh approval from SEZ authority does not amount to ‘splitting up or reconstruction’ of an existing business for the purpose of section 10A of the Act....
Read MoreNotification No. G.S.R. 2(E) - (26/12/2016) - 5A. Infrastructure requirements relating to information technology, Bio-technology, Research and Development facilities, Fabless Semi-conductor Industry and Electronic Manufacturing Services...
Read MoreInstruction No. 86 - (31/10/2016) - Amendment to Instruction No. 9 regarding Procedure for Reimbursement of Duty (ROD) in lieu of drawback for supply of goods to SEZ Developers against Indian Rupees....
Read MoreNo.D.12/45/2009-SEZ - (14/07/2016) - Instruction regarding documents to be forwarded for full notification/additional area notification/partial de-notification/full de-notification/change of name of developer or co-developer and shifting of unit from one SEZ to another SEZ-reg....
Read MoreNo.P.6/3/2006-SEZ (vol.111) - (16/02/2016) - Power Guidelines for power Generation, Transmission and Distribution in Special Economic Zones (SEZs) were issued on 27th February, 2009 and subsequently replaced by the guidelines issued on 21st March, 2012.These guidelines were further reviewed and guidelines dated 21st March, 2012 were withdrawn ...
Read More84/SEZ, - (16/04/2015) - Instruction No. 84/SEZ, Dated : April 16, 2015 With a view to promote the ease of doing business further, it is advised that SEZ Units are now allowed to remove goods for repair, replacement, testing, calibration, quality testing and research and development purposes also on selfattestation basis un...
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