Search Result for : Export Promotion Council For Eous And Sezs

Pooja Jain The overseas shipments from Special Economic Zones registered a marginal increase of 0.77% in FY16. The exports from 204 SEZs climbed to Rs 4.67 lakh crore in 2015-16 from Rs 4.63 lakh crore in FY15, reveals data available with Ministry of Commerce. An official from the Commerce Ministry stated that the positive increase in overseas shipments from such zones indicate that there is potential to boost overall exports of the country via SEZs. Speaking to the correspondent on phone regarding how to address the issues faced by SEZs, PC Nambiar, Chairman of Export Promotion Council for EOUs and SEZs, said, “The lack of coordination between the State government, development commissioners and planning commissions is the main hurdle to the growth of SEZs. That ...

The Commerce Ministry has suggested that the sunset clause should not be invoked for SEZs as it would have adverse bearing on exports from these zones Source:PTI The ministry has also asked for removal of the minimum alternate tax (MAT) of 18.5% on SEZs book profits for five years. Bolstering its case against the proposed sunset clause, the Commerce Ministry has called upon its finance counterpart not to abolish the tax incentives being enjoyed by SEZs as their removal would hurt exports and employment generation. The government is considering gradually doing away with tax exemptions to various sectors, including special economic zones (SEZs), and reducing the corporate tax to 25% from 30% over four years. The Commerce Ministry, in its Budget recommendations, has suggested ...