SEZ - Page 10

SEZs in the Country

As on 30th June, 2010, an investment of Rs. 1,66,526 crores has been made in SEZs and direct employment for 5,50,323 persons have been generated. The total physical Exports of Rs. 2,20,711.39 crore approximately have been made from SEZs during the year 2009-10 registering a growth of about 121.40% over the exports for the previous financi...

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Posted Under: Corporate Law |

SEZ may retain income tax concessions even after introduction of the Direct Taxes Code

Units located in special economic zones (SEZ) are likely to retain the income tax concessions even after introduction of the Direct Taxes Code. A compromise is being worked out by the commerce and revenue departments, though a continuation of the tax dispensation will come with certain riders for units in the duty-free enclaves as well as...

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Posted Under: Corporate Law |

Rush to set up SEZ before March 31, 2011 to avail IT benefits

Companies sitting on the fence are trying to see if they can use the eight month window still available to set up units in special economic zones. Units have to come up before March 31, 2011, to avail of income-tax concessions available for SEZ units....

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Posted Under: Corporate Law |

Continuation of tax sops for SEZ under DTC regime, commerce department suggests ‘middle of the road’ solution

The commerce department has sought a ‘middle of the road’ solution to the taxation problems thrown up by the draft direct taxes code for special economic zone that enjoy substantial tax concession. In a letter to the revenue department, the department has suggested ways in which the finance ministry could implement the new tax dispens...

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Posted Under: Corporate Law |

Finance Minister to look into continuation of tax sops: SEZ developer

The revised discussion paper on the Direct Tax Code (DTC), which would overhaul the Income Tax Act, proposes tax exemptions only for the existing SEZ units. "In case no income tax benefit is provided to the new SEZ units, no entrepreneur would like to set up a unit in the SEZ," EPCES Chairman R K Sonthalia said....

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Posted Under: Corporate Law |

Commerce Ministry likely to prescribe strict norms for SEZ units engaged in recycling of plastic next week

The Commerce Ministry is likely to come out with strict norms for SEZ units engaged in recycling of plastic next week in wake of the Environment Ministry's concern on illegal import of the hazardous waste. Businesses interested in setting up new plastic recycling units in Special Economic Zones (SEZs), would have to invest a minimum of Rs...

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Posted Under: Corporate Law |

SEZ developers step up demand for continued Income-Tax exemptions, Seek Centre, States intervention

The likelihood of new units in Special Economic Zones losing Income-Tax exemptions in the Direct Taxes Code regime has stepped up representations to the Centre. According to the DTC revised draft, units coming up in SEZs after the implementation of the Code from April 1, 2011, would not get I-T holiday....

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Posted Under: Corporate Law | ,

SEZs unlikely to get tax sops under Direct Tax Code

The Finance Ministry indicated that the revised Direct Taxes Code draft may stick to denying tax sops to special economic zones (SEZs), even as Commerce Minister Anand Sharma assured that the interests of investors will be protected....

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Posted Under: Corporate Law |

Commerce and Industry Minister may take up SEZ tax issue with Pranab

The Commerce and Industry Minister, Mr Anand Sharma, is likely to call on the Finance Minister, Mr Pranab Mukherjee, here on Friday at the latter's North Block office....

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Posted Under: Corporate Law |

Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation

RBI/2009-10/513, A.P. (DIR Series) Circular No.57 (29/06/2010)

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P.(DIR Series) Circular No.70 dated June 30, 2009 increasing the period of realisation and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export, subject t...

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