Special Economic Zone

Minimum Alternative Tax And Dividend Distribution Tax On Special Economic Zone

Background Karnataka High Court (High Court) in the case of M/s Mindtree (Tax Payer) v. Union of India[1] held that the imposition of Minimum Alternate Tax and Dividend Distribution Tax on SEZs is neither a breach of promise nor a violation of the doctrine of legitimate expectation and also held that tax levies on SEZs is constitutionally valid. Facts of… Read More

Tags: Dividend Distribution TaxFinance ActGovernment of IndiaIncome taxIncome Tax Act 1961SEZSEZ ActSpecial Economic Zone

Board of Approval Clears Two New SEZ Proposals

The 59th meeting of Board of Approval (BoA) on Special Economic Zones (SEZs) and 4th meeting of 2013 series on Export Oriented Units (EOUs) were held here today under the chairmanship of Commerce Secretary Shri S R Rao. This was the first meeting of the Inter-ministerial body to be held after the recent SEZ reforms… Read More

Tags: Andhra PradeshBoAIndiaMangaloreSEZSpecial Economic ZoneTamil NaduUnited States Secretary of Commerce

Amendment to Special Economic Zones Rules, 2006

No. D.12/45/2009-SEZ Government of India Ministry of Commerce & Industry Department of Commerce SEZ Division ******** Udyog Bhawan, New Delhi Dated the 12th August, 2013 OFFICE MEMORANDUM Subject: Amendment to Special Economic Zones Rules, 2006 - regarding In order to revive investors' interest in Special Economic Zones, Hon'ble Commerce & Industry Minister announced certain measures on… Read More

Tags: Government of IndiaKevin RuddNew DelhiNorthern TerritorySEZSinghSpecial Economic ZoneUnited States Department of Commerce

Concessions to SEZs

Supplies to SEZs for the authorized operations of the SEZ Units are exempted from payment of Central Excise Duties and Service Tax.  However rebate for Central Excise Duty paid by DTA supplier on supply of goods to SEZ Units can be claimed from the jurisdictional Central Excise authorities. The SEZ Act 2005 provides for setting up… Read More

Tags: Domestic Tariff AreaExportFiscal yearLok SabhaMinister of StateSEZSpecial Economic ZoneState Government

Validity of IEC for Export Oriented Unit (EOU) or units in Special Economic Zone/Electronics Hardware Technology Park(EHTP)/Software Technology Park(STP)/Bio-Technology Park(BTP) after de-bonding

Government of India Ministry of Commerce and Industry Directorate General of Foreign Trade Udyog Bhavan, New Delhi-110011 Policy Circular No. 2 (RE-2013)/2009-2014 Dated the 26thJuly, 2013 To All Development commissioners, SEZ All Licensing Authorities. All Custom Authorities. Subject: Validity of IEC for Export Oriented Unit (EOU) or units in Special Economic Zone/Electronics Hardware Technology Park(EHTP)/Software… Read More

Tags: Domestic Tariff AreaEnemy Objectives UnitIECInternational Electrotechnical CommissionMinistry of Commerce and Industry (India)New DelhiSoftware Technology Parks of IndiaSpecial Economic Zone

DGFT – Amendment in Para 2.17 A of Foreign Trade Policy, 2009-2014

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3, SUB SECTION (II) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE Notification No. 28 (RE-2013)/2009-2014 New Delhi, Dated the 24th July, 2013 Subject: Amendment in Para 2.17 A of Foreign Trade Policy, 2009-2014. S.O. (E) - In exercise of powers conferred under Section 5 of… Read More

Tags: Director-generalForeign Trade PolicyGazette of IndiaGovernment of IndiaMinistry of Commerce and Industry (India)New DelhiRegulationSpecial Economic Zone

Services Provided to Special Economic Zone (SEZ) Authorised Operations Exempted From Service Tax

The Central Government has decided to exempt the services on which service tax is leviable under section 66B of the said Act, received by a unit located in a Special Economic Zone (hereinafter referred to as SEZ Unit) or Developer of SEZ ( hereinafter referred to as the Developer) and used for the authorised operation from… Read More

Tags: AuthorizationCenvat Credit RulesDomestic Tariff AreaMoney back guaranteeService ProviderSEZSpecial Economic ZoneTax exemption

Withdrawal of exemptions to SEZs cannot be treated as a breach of Doctrine of Promissory Estoppel

Mindtree Limited vs. UOI (Karnataka High Court) CLR Editorial Notes: As a corollary to the Special Economic Zones Act, 2005 (˜SEZ Act™), section 115JB(6) and section 115-O (6) were inserted to ensure that the SEZs are exempted from paying Minimum Alternate Tax (MAT) on book profits and taxes on distributed profits [Dividend Distribution Tax ("DDT")].… Read More

Tags: DDTDividend Distribution TaxDoctrine of Legitimate ExpectationDoctrine of Promissory EstoppelEstoppelFinance ActGovernmentMinimum Alternate TaxSection 115-O (6)Section 115JB(6)SEZSpecial Economic ZoneSpecial Economic Zones ActUnited States

DGFT Amendment Notification relating to export of edible oils

 (To be Published in the Gazette of India Extraordinary Part-II, Section - 3, Sub-Section (ii)) Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Notification No 22 (RE 2013)/2009-2014 New Delhi, Dated : 18 June, 2013 Subject: Amendment in Notification No 39(RE-2012)/2009-14 dated 25th March, 2013 relating to export of edible… Read More

Tags: Central GovernmentCooking oilDomestic Tariff AreaGazette of IndiaGovernment of IndiaIndiaNew DelhiSpecial Economic Zone

Service tax amendment notification in relation to Foreign Trade Policy – substitutions

[TO BE PUBLISED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification No. 11 / 2013 - Service Tax New Delhi, the 13th June, 2013 G.S.R. 373(E).- In exercise of the powers conferred by sub-section (1) of section 93 of theFinance Act, 1994 (32 of… Read More

Tags: ExportForeign Trade PolicyGazette of IndiaGovernment of IndiaIndiaministry of financeNew DelhiSpecial Economic Zone

Export of Goods and Services – Realization and Repatriation period for units in Special Economic Zones (SEZ)

RBI/2012-13/526 A.P. (DIR Series) Circular No. 108 June 11, 2013 To, All Category - I Authorised Dealer Banks Madam / Sir, Export of Goods and Services- Realization and Repatriation period for units in Special Economic Zones (SEZ) Attention of Authorized Dealer banks is invited to A. P. (DIR Series) Circular No. 91 dated April 1, 2003.… Read More

Tags: Anno DominiCategories of New Testament manuscriptsExportForeign Exchange Management ActIndiaReserve Bank of IndiaSEZSpecial Economic Zone

Incentives Given for Business Units in SEZs

The fiscal concessions and duty benefits allowed to SEZs are in built into the SEZs Act, 2005 and Rules framedthereunder. These exemptions are uniformly applicable to all SEZs and are primarily in the nature of incentives for export and are consistent with the principles that guide export promotion initiatives of the Government in general. Since… Read More

Tags: Andhra PradeshExportGovernmentMadhya PradeshMinister of StateSEZSpecial Economic ZoneWest Bengal

RBI Releases Report of the Technical Committee on Services/Facilities to the Exporters

RBI head office, Delhi  The Reserve Bank of India today released the report of the Technical Committee on Services/Facilities for the Exporters(Chairman - Shri G. Padmanabhan, Executive Director, RBI). Among others the Committee has made recommendations relating to i) review of Gold Card Scheme for extension of export credit to exporters, ii) appropriate inclusion of… Read More

Tags: Domestic Tariff AreaEXIM bankExportIndiaMonetary policyReserve BankReserve Bank of IndiaSpecial Economic Zone

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