Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT Audit :: VAT RATES :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

Interest in SEZs waning on uncertainty over tax sops
July, 13th 2010

The uncertainty over tax benefits for special economic zones, or SEZs, arising out of the proposals in the draft direct taxes code seems
to have started impacting flow of investments into these enclaves. The number of new applications for setting up dropped to three this month.

A worried commerce department is already in discussions with the finance ministry on the fallout of the proposed code on the SEZ policy.

We get enquiries by the dozens from investors over what would happen to their investments once the DTC comes in, a commerce department official told ET.

There is a lot of apprehension that profit projections made on the basis of the existing SEZ Act may go awry once the new tax code comes in, the official added.

The board of approval, which gives the green signal to new zones, has received only three applications for consideration in its meeting scheduled on Tuesday. The board had received six proposals each in the previous two meetings and eight proposals in each of the preceding two meetings.

We are not surprised by the declining numbers as setting up new zones may not seem as attractive as before, the official said.

The draft direct taxes code has proposed withdrawal of exemptions for new units that come up after the tax code is implemented and replacement of tax exemption on profits for developers with sops on investments.

The direct taxes code is expected to implemented from the next fiscal year.

SEZs may also attract minimum alternative tax (MAT) of 18% as the proposed DTC has no provision of giving any sector exemption from this levy.

The shift from profit-based tax exemption to investment-based tax exemption for developers would adversely affect sectors such as IT where investments are low.

Under the SEZ Act, SEZ units get 100% tax exemption on profits earned for the first five years, a 50% exemption for the next five years and another 50% exemption on re-invested profits in the following five years.

SEZ developers, on the other hand, get 100% tax exemption on profits for ten years which they can choose in the block of the first fifteen years.

No duty on transfer from DTA to SEZ: SC

The Supreme Court on Monday said transfer of goods from domestic tariff areas (DTA) to special economic zones (SEZ) is not subject to export duty, reports PTI from New Delhi. The Supreme Court was hearing a plea filed by the Centre challenging an order of the Gujarat High Court barring export duty on goods supplied to exportoriented SEZs from DTAs. An SC bench dismissed the plea of the Centre that any transfer of goods from a DTA to an SEZ falls within the meaning of an export.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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