SEZ - Page 10

Commerce Ministry to set up committee to simplify EOU procedures

The Commerce Ministry today said it will set up a committee to recast the export-oriented unit scheme so that the scheme remain attractive even after the end of tax sops in 2011. "EOUs should be re-modeled because challenges and environment have cha...

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Posted Under: Corporate Law |

SEZ – Consolidated guidelines /instructions issued on the staff management of Government and Private Special Economic Zo

14/10/2010

The SEZs are headed by Development Commissioners (Joint Secretary/Director/Deputy Secretary Level at the Centre) with supportive Customs and Ministerial Staff. Central Government appoints Development Commissioner in one or more Special Economic Zone. [Section 11(1) of the SEZ Act], Central Government also appoints such officers an...

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Guidelines for Development of Special Economic Zones (SEZs)

Guidelines for Development of Special Economic Zones (SEZs) 1. BACKGROUND: India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia’s first EPZ set up in Kandla in 1965. With a view to overcome the shortcomings experienced in the EPZ format, a Specia...

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Posted Under: Corporate Law |

SEZ – Clarification on Rule 47(3) of SEZ Rules, 2006 – Duty for sale of power from SEZ to DTA – Instruction No. 67, dated 28-10-2010

Instruction No. 67, (28/10/2010)

Instruction No. 67, dated 28-10-2010. The undersigned is directed to say that in order to implement the Custom Notification No. 91/2010, dated 6-9-2010, it has been decided that operation of Rule 47(3) of SEZ Rules, 2006 is kept in abeyance w.e.f. 6-9-2010 till further orders....

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DTC 2010-Key proposals and impact on Real Estate Sector

The Real Estate sector has been a key driver to India’s economic growth trajectory. The tax incentives offered to companies operating in this sector have provided them an edge in today’s fiercely competitive market. As such, continuation of these tax...

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Posted Under: Corporate Law |

Drawback on supplies made by DTA units to SEZ, issue of drawback cheque books by jurisdictional Commissioner of Customs to Central Excise Commissionerates

Circular No. 39/2010-Customs Duty (15/10/2010)

I am directed to invite attention to the Board circular No.43/2007-Cus dated 5th December, 2007 which clarified that the Specified Officer posted in an SEZ is the appropriate authority for granting drawback in respect of goods supplied from DTA units to Developers and units in SEZ except where the unit or Developer issues a disclaimer to ...

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SEZs to be operational before March 2014 to get tax benefits under the proposed Direct Taxes Code

The deadline of March, 2014, under the proposed Direct Taxes Code (DTC) for making new special economic zone units operational if they are to get tax benefits is likely to speed up development of these SEZs by entrepreneurs, a report said. ...

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Posted Under: Corporate Law |

DTC 2010 introduces investment linked tax incentives instead of profit based incentives available under the Income Tax Act

Under the Income Tax Law (ITL), tax incentives linked to the profits of the relevant business (profit-linked incentives) are available for a specified number of years. Direct Taxes Code (DTC) 2010 proposes to withdraw or substitute these profit-linke...

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Posted Under: Corporate Law |

Approvals for setting up units in SEZs will be done electronically from October'

Getting approvals for setting up units in SEZs will be done electronically from next month - a move which will help entrepreneurs reduce transaction costs, a senior Commerce Ministry official said today. "Special Economic Zones (SEZs) online means al...

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Posted Under: Corporate Law |

Direct Tax Code Now in 2012

The Cabinet approved Direct Tax Code (DTC) as tabled in Parliament on last day of August 2010 has many surprises and hidden shocks for individuals as well as corporate India. The key objective of DTC is to benefit small taxpayers as a result of rati...

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Posted Under: Corporate Law |

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