Commerce Ministry
Investments in Special Economic Zones (SEZs) declined as a result of introduction of Minimum Alternative Tax (MAT) and Dividend Distribution Tax (DDT), which led to negative investor sentiments, a study commissioned by the Commerce Ministry has said. Moreover, products manufactured in the zones have become non-competitive in the domestic tariff area (rest of the country) [...] Continue Reading »
Narendra Modi has made a conscious decision to give commerce minister Nirmala Sitharaman a foot in the finance ministry as well for a reason. The main reason is to try and make sure that bitter turf wars that have existed in between the two sides could be resolved to the mutual benefit of all concerned. [...] Continue Reading »
Ahead of prime minister Narendra Modi’s scheduled laying of foundation for the Rs 4,000 crore Jawaharlal Nehru Port Trust SEZ this weekend, commerce ministry pitched for restoration of tax benefits, which are widely expected to be announced in foreign trade policy this month-end. Making her intent clear, commerce and industry minister Nirmala Sitharaman told the [...] Continue Reading »
The Government has set ‘strict’ timelines for clearance of various Special Economic Zones (SEZs) related activities by the development commissioners (DC) of the zones. This has been done to ensure smooth functioning of SEZs and facilitating ease of doing business, an official release said. The development commissioners will be allowed 15 days to examine proposals [...] Continue Reading »
The Union Budget might have missed on the tax concessions for Special Economic Zones or SEZs but the government has been working out on the comprehensive packages for the special zones to increase their exports, other investments, in other words increase their economic activities. The government intend to offer the SEZs some packages for their [...] Continue Reading »
The Commerce Ministry has come to a conclusion that once the Narendra Modi and his government comes to power, there will be a new pitch for restoring the tax benefits for the SEZ (Special Economic Zones) Earlier the taxes of SEZ were free from any kind of obligation but since the yea 2011-12, this came [...] Continue Reading »
