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
 Exim Help

What is New?

Date: 23-11-2022
NOTIFICATIONNo. 23/2022 – Central Tax
Seeks to empower the Competition Commission of India to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022.

Date: 23-11-2022
NOTIFICATION No. 24/2022 – Central Tax
Seeks to make fourth amendment (2022) to CGST Rules with effect from 01.12.2022.

Date: 18-11-2022
Notification No. 58/2022-Customs
Seeks to amend Notification No. 27/2011- Customs, dated the 1st March, 2011 in order to withdrawal export duty on iron ore & steel products.

Date: 18-11-2022
Notification No. 59/2022-Customs
Seeks to amend Notification No. 50/2017-Customs, dated the 30th June, 2017 in order to withdrawal BCD exemption on Anthracite and PCI Coal, Coke & Semi coke and ferronickel.

Date: 18-11-2022
Notification No. 60/2022-Customs
Seeks to amend Notification 11/2021-Customs, dated the 1st February, 2021 in order to withdrawal AIDC exemption on Anthracite ,PCI Coal and Coking Coal.

Date: 17-11-2022
Notification No. 97 /2022 - Customs (N.T.)
Seeks to giv exemption from BCD for the motor car if imported by the Governor of the state .

Date: 17-11-2022
Notification No. 57/2022-Customs
Seeks to giv exemption from BCD for the motor car if imported by the Governor of the state .

Date: 16-11-2022
Notification No. 38/2022-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.

Date: 16-11-2022
Notification No. 39/2022-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: 15-11-2022
NOTIFICATION No. 22/2022 – Central Tax
Seeks to make amendments (Third Amendment, 2022) to the CGST Rules, 2017.

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.


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