SEZ - Page 16

Government likely to extend the tax benefits from the Software Technology Parks of India (STPI), to March 31, 2010

The government is likely to extend the tax benefits on exports earnings of the information technology (IT) units, operating from the Software Technology Parks of India (STPI), to March 31, 2010 in Budget. The scheme was expired in March 2009. Under the STPI scheme, export incomes are exempted from tax under Section 10(A) for the […...

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Posted Under: Income Tax |

Circular on Validity of Form ‘I’ under Central Sales Tax Act

Trade Circular No. 19 T of 2009 (20/06/2009)

Considering the genuine difficulty faced by the Trade in this respect, the instructions contained in Trade Circular No.8T of 2005 are being modified. Sales Tax authorities are instructed to also allow declarations in Form 'I' issued by Sales Tax authorities of other States. This will be applicable for a period of one year and the issue wi...

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Clarification on Lease of space on shift basis in IT/ITES SEZ & Disaster Management/Recovery Centre

SEZ: Instruction No. 13 (03/06/2009)

F.No.C.3/6/2009-SEZ Government of India Ministry of Commerce and Industry Department of Commerce Udyog Bhawan, New Delhi Dated the 3rd June , 2009 INSTRUCTION NO. 13 Subject: Clarification on Lease of space on shift basis in IT/ITES SEZ & Disaster Management / Recovery Centre Reference has been received as to whether a Developer can l...

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Govt gave in-principle approval to DLF to withdraw 4 SEZs, asked to refund tax sops

The government gave in-principle approval to DLF on Tuesday to withdraw four of its IT, ITES special economic zones, which the realty major did not want to build in the face of slowdown in the real estate business. However, the board of approval in the commerce ministry asked the DLF to return all the tax […]...

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Posted Under: Income Tax |

Area limit of 5,000 hectares will not applicable for SEZs if two or more such zones are merged

NEW DELHI: The government has decided not to apply an area limit of 5,000 hectares for special economic zones (SEZs) if two or more such zones are merged, clearing the way for big SEZs in the country. In an amendment to the SEZ rules, the government has also allowed developers more freedom on selecting the […]...

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Posted Under: Income Tax |

Govt. May Exempt SEZ export profits under section 10AA

The three-year long wait of companies to avail full income tax benefits on export profits from their SEZ units will come to an end in two months. Official sources said the government has firmed up plans to bring changes in Section 10AA of the Income Tax Act in the forthcoming Union Budget to rectify an anomaly in the wording of the Sectio...

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Posted Under: Income Tax |

Refund of service tax paid on in relation to the authorised operations in SEZ

Circular No. 114/08/2009-ST (20/05/2009)

Circular No. 114/08/2009-ST Dated: May 20, 2009. F.No.354/163/2006-TRU Government of India, Ministry of Finance, Department of Revenue, (Tax Research Unit),Room No.153, North Block, New Delhi, Subject:   Refund of service tax paid on taxable services taxable services which are provided in relation to the authorised operations in ...

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Notification on Service Tax Exemption to taxable services consumed within Special Economic Zones

Through Notification No. 9/2009 – ST dated March 3, 2009, the Central Government had provided for an exemption from service tax by way of refund in respect of taxable services in relation to authorized operations that are received by a developer of or a unit in a Special Economic Zone (SEZ). The same has now been amended by a Notificati...

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Posted Under: Income Tax |

Election Commission blocks service tax sops for SEZ units & Developers

Developers of special economic zones (SEZ) and units operating in them will have to wait until a new government is formed to get a keenly-awaited exemption on service tax payments for services availed inside the zones. The Election Commission (EC) has refused to allow the finance ministry to pass a notification allowing the exempt...

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Posted Under: Income Tax |

Government is likely to exempt the services provided inside the Special Economic Zones from service tax

The government is likely to exempt the services provided inside the Special Economic Zones from service tax, a move for which it is expected to seek approval from the Election Commission. Hitherto, service providers were paying taxes first and than claiming refunds, an issue on which the Commerce Ministry has written to the Ministry of Fi...

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Posted Under: Income Tax |

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