Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT Audit :: cpt :: articles on VAT and GST in India :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TDS :: empanelment :: VAT RATES :: form 3cd :: list of goods taxed at 4%
 
 
« News Headlines »
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of

Revenue dept to set up cell to monitor SEZs
December, 28th 2006

Fearing a Rs 1-lakh crore revenue loss on account of sops given to special economic zones (SEZs) in the next five years, the revenue department is setting up a special cell to monitor them.

The cell, which will have officers from both the Central Board of Direct Taxes and the Central Board of Excise and Customs, will vet the proposals before they are taken up for approval by the Board of Approval (BoA) for SEZs. The cell would be represented at the BoA meeting. It would also deal with all other matters coming up during the setting up of the SEZs including procedures, rules and regulations.

At present, all proposals and related matters go separately to CBEC and CBDT for examination. The BoA also has representatives from both the boards. Sources said since the core concern of both the boards is to save revenue, a need was felt to cut down on multiplicity of approach and evolve a central body to deal with all issues related to SEZs.

The cell would also be the single-point of reference for field formations for clarification on all issues including direct and indirect taxes. Sources said certain procedural changes may be required on the field when SEZs go full steam. The cell would be equipped to handle the situation.

It would be housed under the Directorate General of Export Promotion. The government has received over 650 SEZ proposals so far. Of these, 237 have been granted approval and are spread over 17 states and 2 union territories. A total of 51 SEZs have been notified so far. A large number of these SEZs are for textiles and apparels, leather footwear, auto components, engineering and other sector specific SEZs.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions