Income Tax : Taxpayers must file Form 33 to claim SEZ deduction on profits. Proper reporting of reserve utilisation and asset purchase is essen...
CA, CS, CMA : Explains the Budget 2026 proposal allowing SEZ units to sell to DTA units at reduced duty and how it simplifies approvals while lo...
Corporate Law : SEZ clearances to the DTA attract customs duty on full value, including domestic addition. The takeaway is SEZs are disadvantaged ...
Goods and Services Tax : This explains why non-refundable tender fees qualify as taxable consideration under GST. It clarifies that access to a tender proc...
Goods and Services Tax : Learn how to file your GSTR-9 annual return, including details of supplies, ITC, taxes paid, and adjustments for FY 2024-25....
Corporate Law : India's government amends SEZ rules, reducing land requirements and easing norms to boost semiconductor and electronics component ...
Corporate Law : Learn about SEZ provisions for IFSC units, mandatory approvals, and the role of IFSCA Administrator under SEZ Act for unified regu...
Goods and Services Tax : GST portal updates, geocoding of principal place of business, user ID generation, registration cancellation, AATO enablement, annu...
Corporate Law : The Special Economic Zones Act will be replaced with a new legislation that will enable the states to become partners in Developme...
Income Tax : Ministry of Commerce & Industry 378 SEZs are presently notified, out of which 265 are operational Posted On: 10 MAR 2021 The S...
Service Tax : CESTAT Bangalore held that services rendered by a sub-contractor for authorized operations within an SEZ are eligible for exemptio...
Service Tax : The tribunal remanded the case after finding insufficient evidence to prove that refund and Cenvat credit were not claimed on the ...
Service Tax : The case addressed whether services like rent-a-cab, catering, and business support qualify as input services for SEZ refund claim...
Custom Duty : The Tribunal held that exemption cannot be denied based on a re-export condition imposed through a DGH certificate when such a req...
Service Tax : The issue involved denial of service tax refund on employee insurance services in an SEZ unit. The Tribunal held that such insuran...
Custom Duty : The notification grants customs duty relief to SEZ units clearing goods to DTA, provided production began before 31 March 2025. It...
Corporate Law : The Commerce Ministry revised SEZ-Online user charges after migration of transactions to ICEGATE reduced operational viability. Ne...
Corporate Law : The issue concerned regulatory handling of restructuring in IFSC units. The instruction clarifies that IFSCA will intimate SEZ aut...
Corporate Law : Instruction 121 from the SEZ Division details the process for IT/ITES SEZ developers to convert demarcated Non-Processing Area (NP...
Corporate Law : India's Commerce Ministry clarifies that SOFTEX form filing isn't mandatory for service exports between SEZ units or from a DTA un...
Before discussing Notification No. 7/2014 –Service Tax dated 11-07-2014 came in response to Budget Speech of Shri Arun Jaitley, finance minster under Prime minister ship of Shri Narendra Modiiji. I would like to bring to your attention previous position for exemption from Service Tax/Refund of tax paid by Special Economic Zones – Developers/Units. Central Board […]
Amendments by Finance Act, 2011 to withdraw exemption from MAT & Dividend Distribution Tax to SEZ developers/units are not unconstitutional. In the impugned amendment it is made clear that it is prospective in nature. Therefore the impugned amendments can neither be said unreasonable or arbitrary.
Central Board of Excise and Customs, Ministry of Finance has rescinded Notification No. 40/2012-ST dated 20th June 2012 and introduced new Notification No. 12/2013-ST dated 01-07-2013. 1. As per this Notification where the specified services received by the SEZ unit or the Developer are used exclusively for the authorised operations, the person liable to pay […]
The provisions of Minimum Alternate Tax (MAT) have been made applicable to Special Economic Zone (SEZ) Developers and Units with effect from 1st April, 2012. The SEZ sector has seen a sharp slowdown due to a number of reasons including withdrawal of exemption from MAT and Dividend Distribution Tax (DDT) provisions, uncertain fiscal regime for SEZs, global slowdown in exports etc.
There is no concept called Tax Free Zones as such in operation. However, there are schemes like Special Economic Zones (SEZs) and Export Oriented Units (EOUs) which provide tax exemptions. Both above schemes are administered by the Department of Commerce.
In all other matters, the concerned DC, SEZ should take all necessary steps, including consultation with Government Counsel and represent the matter before the relevant Court on behalf of UoI also.
The SEZ sector has grown significantly since the enactment of the SEZ Act 2005 and Rules in 2006, in terms of the number of SEZs, investment attracted, and employment and exports generated. While these achievements are irrefutable and significant, a comprehensive analytical assessment of the performance of the sector and certain key developments in the politico-economic environment in recent years reveals aspects of the SEZ Policy and Operational framework that perhaps require a re-look with a view to possible reform.
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 exports’ under the provisions of the Special Economic Zones Act, 2005.
Land is a State subject. Land for SEZs is procured as per the policy and procedures of the respective State Governments. As per information available in respect of 381 SEZs, 82.3% of land is waste/barren/dry/industrial, 15% of land is single crop and 2.7% of land is double crop. A Statement containing state-wise distribution of land area of SEZs is Annexed.
Withdrawal of tax benefits from special economic zones (SEZs) would adversely impact India’s exports and economic sentiments, Assocham today said. Developers have invested huge money in SEZs. If tax benefits are not given, there will be adverse impact on exports and economic sentiments, the chamber said. It said that about Rs 30,000 crore worth of exposure that banks and financial institutions have given to SEZ projects under various stages of implementation may turn into non-performing assets.
