Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Finance Ministry to refund Swachh Bharat cess paid by SEZs.

Date: 04-02-2016
Subject: Finance Ministry to refund Swachh Bharat cess paid by SEZs
NEW DELHI: Providing relief to SEZ units and developers, the Finance Ministry today said they will be entitled to refund of the Swachh Bharat cess, a levy imposed by the government from November last year to fund its cleanliness drive.

"The SEZ Unit or the Developer shall be entitled to refund of the Swachh Bharat Cess paid on the specified services on which ab-initio exemption is admissible but not claimed," the Central Board of Excise and Customs said in a notification.

It has also specified a formula for calculating refund due to SEZ units and developers.

Government had imposed 0.5 per cent Swachh Bharat cess on taxable services from November 15, 2015. With the imposition of the cess, service tax rate has gone up from 14 per cent to 14.5 per cent.

The cess is levied only on the portion of taxable services (after abatement) and will go towards funding of the Swachh Bharat scheme, a pet project of Prime Minister Narendra Modi.

The concessions provided to the Special Economic Zones (SEZs) is expected to generate some interest of investors in them. Investors have been losing interest in these zones for various reasons including global economic slowdown, imposition of minimum alternate tax (MAT) and dividend distribution tax ( DDT).

Many business houses have surrendered SEZs while the government on its part has given more time to some developers to execute the projects.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001