Search Result for : Exports From Sezs

The Dollar Business Bureau At a workshop in New Delhi on the implications of GST for special economic zones (SEZs) and export-oriented units (EOUs), it was unanimously agreed upon that these zones must be exempted from GST. The Export Promotion Council for EOUs and SEZs (EPCES) has urged the Centre to refrain from levying the new Goods and Services Tax on SEZs and EOUs which have hitherto enjoyed plenty tax breaks. To continue to attract investment and boost exports, it is imperative that under the new tax regime, these entities continue to benefit from tax rebates. "During the workshop, it was unanimously decided that EPCES must request the central and state governments to provide an exemption to SEZs from payment of CGST/SGST/IGST as there is no mechanism in SEZ Act for the refund ...

 The Dollar Business Bureau India’s total exports originated from special economic zones (SEZs) fell by 1.89% to Rs.3.41 lakh crore during April-December 2015, Commerce Minister Nirmala Sitharaman said in a written reply to the Parliament on Monday.   In the financial year 2014-15, exports from SEZ’s had fallen by 6.13% to Rs.4.63 lakh crore.   “In order to boost exports from SEZs, the government periodically reviews the policy and operational framework of these zones and takes necessary steps to facilitate speedy and effective implementation of SEZs,” Sitharaman said on Monday.  The commerce minister stressed that the Prime Minister Narendra Modi-led government has put a particular emphasis on developing India’s SEZs, as these economic zones hold immense potential to boost the country’s export segment.  ...

Deepak Kumar | The Dollar Business Bureau    As part of efforts to push domestic manufacturing from the special economic zones (SEZs) in India, industry analysts held a meeting with the government last week and proposed steps to revive stalled SEZs to increase exports from the sector. “We have told them that a project, such as an SEZ, where once the land is identified, it takes 7-8 years after getting the approval, to set up and start production at the venue. Because apart from the central government regulations, there are state government approvals, building plan approvals and environment clearances,” P C Nambiar, Chairman, Export Promotion Council for EOUs (export oriented units) & SEZs told the Dollar Business. “Therefore, any project of ...

The Commerce Ministry is also in favour of allowing SEZ units to sell products in the domestic markets at preferential duty at par with FTA Deepak Kumar | The Dollar business Bureau   Blaming several policy-related decisions for declining exports from special economic zones (SEZs), industry experts have asked the government to take pro-exports measures to revive stalled shipments from such zones. According to P C Nambiar, Chairman, Export Promotion Council for EOUs (export oriented units) & SEZs, the government has taken some half-built decisions in the past without considering their long term impacts. But now, authorities are ready to make changes in order to revive the export sector. The frequent advance amendments to the trade policy provision incentives made by the finance department, revenue ...