Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Time to bring some pizzazz to SEZs.


Date: 27-06-2022
Subject: Time to bring some pizzazz to SEZs
The government is trying to revive investor interest in special economic zones (SEZs) that are not keeping pace with an overall boom in merchandise exports after having lost tax privilege. Since 2020, new SEZs do not receive a graded 15-year income-tax (I-T) holiday as part of a government effort to plug revenue exemptions, and in order to be compliant with World Trade Organisation (WTO) requirements. On the other hand, new manufacturing units anywhere in the country now pay a reduced corporation tax as the country pivots to import substitution. Yet, the potential of SEZs is considerable, and the government is right in planning a raft of incentives to keep them in play. The principal benefit could be the ability of units located in SEZs to sell in the domestic tariff area at a lower levy than the regular customs duty that they do now. The idea being the equalisation levy will neutralise advantages that units in SEZs enjoy over their competitors who pay domestic tariffs.

The draft legislation is also proposing to allow unused parts of SEZs to be denotified, thereby freeing up idling real estate, single-window clearance for ease of doing business in these enclaves, and an arbitration mechanism for settling commercial disputes. Domestic sales could be encouraged through easier rules governing contract manufacturing.

States are being looped in by allowing them to set up oversight boards for SEZs.

The clutch of non-tariff benefits being considered should lower India's import dependency by allowing SEZs to cater to both foreign and domestic markets. Incentivising investments in technology and employment generation would be a good way of being compliant with the WTO dispute settlement ruling that prohibits subsidies based on export performance. The net foreign exchange earning criterion that was at the root of the trade dispute with the US can be relaxed without worsening the business case  

Source Name:-Economic Times




Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 12-08-2022
Notification No. 68/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 08-08-2022
Notification No. 67/2022 Customs (N.T.)
Passenger Name Record Information Regulations, 2022.

Date: 04-08-2022
Notification No. 66/2022 - Customs (N.T.)
Exchange rate Notification No.66/2022-Cus (NT) dated 04.08.2022-reg.

Date: 03-08-2022
Circular No. 179/11/2022-GST
Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 47th meeting held on 28th – 29th June, 2022 at Chandigarh

Date: 03-08-2022
Notification No. 24/2022-Customs (ADD)
seeks to impose anti-dumping duty on Opal Glassware from UAE & China PR for a period of 5 years.

Date: 02-08-2022
Notification No. 22/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude and exempt export of Aviation Turbine Fuel.

Date: 02-08-2022
Notification No. 21/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel.

Date: 01-08-2022
NOTIFICATION No. 17/2022 – Central Tax
Seeks to implement e-invoicing for the taxpayers having aggregate turnover exceeding Rs. 10 Cr from 01st October, 2022.

Date: 29-07-2022
Notification No. 65/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 23-07-2022
Notification No. 44/2022-Customs
Seeks to amend notification No. 49/2021 - Customs, dated 13.10.2021, in order to extend the concessional Agriculture Infrastructure and Development Cess [AIDC] of Nil on Lentils (Mosur) up to and inclusive of the 31st March, 2023.



Exim Guru Copyright © 1999-2022 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.

EximGuru.com

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