SEZ

Tax planning while setting up of a business with reference to location (2021-2022 A.Y and A.Y 2022-2023)

Corporate Law - I hereby want to summarize details regarding Tax Planning while setting up of a business with reference to location related with A.Y 2021-2022 and A.Y 2022-2023.You will get the following deductions if you have established your business unit in the following locations as per the following sections 1. Income from newly established unit in ...

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SEZ vs EOU vs DTA

Corporate Law - This article seeks to highlight certain key differences between the Special Economic Zone (SEZ) units, Export Oriented Units (EOU) and Domestic Tariff Area (DTA) units[1] in terms of their various benefits and compliances from an indirect tax point of view. Subject SEZ Unit EOU Unit DTA Unit Area of operations / Setting Up Can be [&hellip...

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ITC Refund Claim by SEZ (Special Economic Zone) Unit

Corporate Law - 1. Hon’ble Gujarat High Court in case of Britannia Industries Ltd allowed SEZ (Special Economic Zone) to claim a refund of ITC (Input Tax Credit) received from ISD ( Input Service Distributor) Unit 1.1. It is held that assessee, situated in Special Economic Zone (SEZ), could claim a refund concerning credit of IGST distributed by [&...

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GST refund on supplies made to SEZ unit/developer (with tax payment)

Corporate Law - How can I file for refund on account of supplies made to SEZ unit / SEZ developer (with payment of tax)? Filing for refunds is a post-login functionality, which means that the Taxpayer must login to the GST Portal with their valid login credentials before filing a refund application....

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GST Refund for Supplies made to SEZ Unit/Developer (Without Tax Payment)

Corporate Law - A. FAQs on Refund on Account of Supplies made to SEZ Unit/ SEZ Developer (Without Payment of Tax) Q.1 How can I get my refund of ITC on account of supplies made to SEZ Unit/ SEZ Developer (Without Payment of Tax)? Ans: You may comply with the activities as specified below: 1. You have to […]...

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378 SEZs are presently notified, out of which 265 are operational

Corporate Law - Ministry of Commerce & Industry 378 SEZs are presently notified, out of which 265 are operational Posted On: 10 MAR 2021 The Special Economic Zones (SEZs) policy was launched in April, 2000.  The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005.  Th...

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Impact of Corona on Sezs

Corporate Law - Along with IT/ITES Units, Non IT/ITES Units in SEZs have also been allowed to take desktop/laptop outside SEZs to work from home. This has enabled exports especially in IT/ITES sector to register a positive growth despite lockdown....

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Compliances to be met by units / developers / co‐developers of SEZs relaxed

Corporate Law - Department of Commerce decided to provide relaxations on compliances to be met by units / developers / co‐developers of Special Economic Zones (SEZs). Such compliances to which the relaxations will apply ...

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Cabinet approves Special Economic Zones (Amendment) Bill, 2019 

Corporate Law - The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved to introduce a Bill, namely, the Special Economic Zones (Amendment) Bill, 2019 that is the Bill to replace the Special Economic Zones (Amendment) Ordinance, 2019 (12 of 2019).  The Bill will be introduced in ensuing session of the Parliament....

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Advisory for Taxpayers to file Refund for Multiple Tax period

Corporate Law - 1. Refund application filing for multiple tax period is available for below grounds of refund:a. Export of Goods & Services-Without payment of Taxb. Supplies made to SEZUnit/SEZDeveloper-Without payment of Tax2. Refund application can be filed using refund application Form GST-RFD-01A & selecting a particular tax period 3. The multiple ta...

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VAT Refunds – SEZ Units – Advantageous Judgement by Hon’ble HC Karnataka

Cerner Healthcare Solutions Pvt. Ltd. Vs. Additional Commissioner Of Commercial Taxes (Karnataka High Court) - The Hon’ble High Court concluded that order passed by JCCT Appeals cannot be said erroneous. Also concluded that the position adopted by ADC is not in line with KVAT Laws  where the order passed by ADC was based on assumption that the benefit of refund of tax paid on purchase of Inputs can be gra...

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SEZ developer eligible for Section 80IAB deduction on Leasing Income

DCIT Vs DLF Assets Pvt Ltd. (ITAT Delhi) - DCIT Vs DLF Assets Pvt Ltd. (ITAT Delhi) The assessee is without doubt a Developer of a SEZ, having been in fact allowed deduction u/s.80-IAB on it’s other income/s, as from service agreements, chargeable u/s. 28. That the said income is assessable as business income, and only rightly so, inas...

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AAR cannot explain Document required for supply to SEZ units

In re Garuda Power Pvt Ltd (GST AAR West bengal) - In re Garuda Power Pvt Ltd (GST AAR West bengal) What document is required for the supply of goods or services to SEZ units? An Advance ruling can be sought on the issues specified in section 97(2) of the GST Act. The issue raised above does not fall within the ambit of any of the […]...

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Entry Tax: After Granting Exemption same can’t be rejected for Technicalities

SRF Ltd. Vs State of Madhya Pradesh And Others (Madhya Pradesh High Court) - The issue under consideration is whether the petitioner is eligible for exemption from payment of entry tax based on certificates granted under Madhya Pradesh Udyog Nivesh Samvardhan Sahayta Yojna?...

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CESTAT Allowed Refund alongwith Interest against Service Tax Paid for Services Received in SEZ

Cummins Technologies India Pvt. Ltd. Vs. Commissioner (CESTAT Delhi) - The issue under consideration is regarding rejection of refund claimed by the appellant being service tax paid for the services received in the SEZ....

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Relaxations to SEZs for pending compliances till 30.06.2021

(01/01/1970) - Ministry of Commerce and Industries  notifies relaxations in Pending compliances, expiry of validity of LoAs, approvals or permissions till 30.06.2021. In view of the prevailing situation of the COVID-19 pandemic and partial lock-down imposed by the State Governments, most government offices are ei...

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DC may allow SEZ unit to work from home amid Covid-19: Govt

No. K.43013(12)1/2021-SEZ - (06/05/2021) - DCs may consider the requests from the industry and approve the extension of WFH facility in a liberal manner till such time when National Disaster Management Authority or State Government continues to issue orders governing this pandemic management....

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Work from home extended till 30.06.2021 for SEZs in Maharashtra

Order No. SEEPZ-SEZ/ADMN/GI/588/2020-21/04325 - (15/03/2021) - it is decided that the 'Work From Home" permission in terms of Rule 43 of SEZ Rule 2006 is extended till 30.06.2021. A review of the same will be taken thereafter for further decision in the matter....

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One Time Custom Duty & Inspection Requirement waiver In Case of De-Bonding Of IT/ Ites Units In Sezs

Instruction No. 105 - (05/02/2021) - One time waiver of Custom Duty as well as inspection requirement in case of de-bonding of IT/ ITeS units in SEZs and exemption on filing of BOE for goods sold by IT/ITeS SEZ unit which were initially procured on payment of duty and not used for authorised operations....

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Auto-Population of IGST paid amount for SEZ DTA Sale BoE in GSTR-2A

Notification No.: NDML/SEZ Online/2021/27  - (04/01/2021) - SEZ Online System has been sharing the details of supplies made by SEZ Units to DTA Units under Bill of Entry with GSTN through ICEGATE since July 2017. ICEGATE has completed its arrangements with GSTN to auto-populate the same in GSTR of DTA Buyer (Importer) for BoE information shared by SEZ Online...

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Recent Posts in "SEZ"

Relaxations to SEZs for pending compliances till 30.06.2021

Ministry of Commerce and Industries  notifies relaxations in Pending compliances, expiry of validity of LoAs, approvals or permissions till 30.06.2021. In view of the prevailing situation of the COVID-19 pandemic and partial lock-down imposed by the State Governments, most government offices are either closed or are functioning with skel...

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DC may allow SEZ unit to work from home amid Covid-19: Govt

No. K.43013(12)1/2021-SEZ 06/05/2021

DCs may consider the requests from the industry and approve the extension of WFH facility in a liberal manner till such time when National Disaster Management Authority or State Government continues to issue orders governing this pandemic management....

Read More

Tax planning while setting up of a business with reference to location (2021-2022 A.Y and A.Y 2022-2023)

I hereby want to summarize details regarding Tax Planning while setting up of a business with reference to location related with A.Y 2021-2022 and A.Y 2022-2023.You will get the following deductions if you have established your business unit in the following locations as per the following sections 1. Income from newly established unit in ...

Read More
Posted Under: Income Tax |

Work from home extended till 30.06.2021 for SEZs in Maharashtra

Order No. SEEPZ-SEZ/ADMN/GI/588/2020-21/04325 15/03/2021

it is decided that the 'Work From Home" permission in terms of Rule 43 of SEZ Rule 2006 is extended till 30.06.2021. A review of the same will be taken thereafter for further decision in the matter....

Read More

SEZ vs EOU vs DTA

This article seeks to highlight certain key differences between the Special Economic Zone (SEZ) units, Export Oriented Units (EOU) and Domestic Tariff Area (DTA) units[1] in terms of their various benefits and compliances from an indirect tax point of view. Subject SEZ Unit EOU Unit DTA Unit Area of operations / Setting Up Can be [&hellip...

Read More
Posted Under: Income Tax |

378 SEZs are presently notified, out of which 265 are operational

Ministry of Commerce & Industry 378 SEZs are presently notified, out of which 265 are operational Posted On: 10 MAR 2021 The Special Economic Zones (SEZs) policy was launched in April, 2000.  The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which received Presidential assent on the 23rd of June, 2005.  Th...

Read More
Posted Under: Income Tax |

VAT Refunds – SEZ Units – Advantageous Judgement by Hon’ble HC Karnataka

Cerner Healthcare Solutions Pvt. Ltd. Vs. Additional Commissioner Of Commercial Taxes (Karnataka High Court)

The Hon’ble High Court concluded that order passed by JCCT Appeals cannot be said erroneous. Also concluded that the position adopted by ADC is not in line with KVAT Laws  where the order passed by ADC was based on assumption that the benefit of refund of tax paid on purchase of Inputs can be granted only in respect of manufacture and ...

Read More

One Time Custom Duty & Inspection Requirement waiver In Case of De-Bonding Of IT/ Ites Units In Sezs

Instruction No. 105 05/02/2021

One time waiver of Custom Duty as well as inspection requirement in case of de-bonding of IT/ ITeS units in SEZs and exemption on filing of BOE for goods sold by IT/ITeS SEZ unit which were initially procured on payment of duty and not used for authorised operations....

Read More

SEZ developer eligible for Section 80IAB deduction on Leasing Income

DCIT Vs DLF Assets Pvt Ltd. (ITAT Delhi)

DCIT Vs DLF Assets Pvt Ltd. (ITAT Delhi) The assessee is without doubt a Developer of a SEZ, having been in fact allowed deduction u/s.80-IAB on it’s other income/s, as from service agreements, chargeable u/s. 28. That the said income is assessable as business income, and only rightly so, inasmuch as the source thereof is […]...

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Auto-Population of IGST paid amount for SEZ DTA Sale BoE in GSTR-2A

Notification No.: NDML/SEZ Online/2021/27  04/01/2021

SEZ Online System has been sharing the details of supplies made by SEZ Units to DTA Units under Bill of Entry with GSTN through ICEGATE since July 2017. ICEGATE has completed its arrangements with GSTN to auto-populate the same in GSTR of DTA Buyer (Importer) for BoE information shared by SEZ Online System....

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