Search Result for : Special Economic Zone Sez

Govt exempts duty on re-imports of certain goods

The Dollar Business Bureau The Government has exempted custom duty on the re-imported goods which are exported under claim for drawback of any customs or excise duties levied by the Union, drawback of any excise duty levied by a State, for rebate of Central Excise duty, bond without payment of Central Excise duty, duty exemption scheme (DEEC/Advance Authorisation/DFIA) or Export Promotion Capital Goods Scheme (EPCG). “The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods falling within any Chapter of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975)….when reimported into India, from so much of the duty of customs leviable and the whole of the additional duty, ...

Exports from SEZs log a marginal growth

Pooja Jain The overseas shipments from Special Economic Zones registered a marginal increase of 0.77% in FY16. The exports from 204 SEZs climbed to Rs 4.67 lakh crore in 2015-16 from Rs 4.63 lakh crore in FY15, reveals data available with Ministry of Commerce. An official from the Commerce Ministry stated that the positive increase in overseas shipments from such zones indicate that there is potential to boost overall exports of the country via SEZs. Speaking to the correspondent on phone regarding how to address the issues faced by SEZs, PC Nambiar, Chairman of Export Promotion Council for EOUs and SEZs, said, “The lack of coordination between the State government, development commissioners and planning commissions is the main hurdle to the growth of SEZs. That ...

Amendment to SEIS, EPCG by DGFT to boost exports

Deepak Kumar Making a positive amendment in the Services Exports from India Scheme (SEIS), and giving the much needed boost to the exporters, the government on Friday said all payments which have been received in foreign exchange but paid in Indian Rupees (INR) for services rendered to a foreign liner will be treated as receipt in Deemed Foreign Exchange as per the guidelines of Reserve Bank of India. These services are entitled for issuing awards. The latest announcement, made by the Ministry of Commerce and Industry, would be applicable to the services with effect from April 1, 2015. The benefit will also be extended to all the payments procured by a foreign entity for services included in rental of vessels with crew. “Payments which ...

Review of SEZ policy will not hurt industry: Nirmala

PTI The periodic review of implementation of the special economic zone (SEZ) policy will not hurt the industry, Commerce Minister Nirmala Sitharaman said on Monday. Responding to supplementaries during Question Hour in Lok Sabha, she said the review is aimed to make the policy more effective but it is not going to ‘hurt’ the industry in any way. In her written response, Sitharaman said that the ongoing review and reform, as necessary, of government policy and procedure is inherent to public policy. "The government, on the basis of inputs and suggestions received from stakeholders on the policy and operational framework of SEZ scheme periodically reviews the policy and the operational framework of SEZs and take necessary measures so as to facilitate speedy and effective ...

CIM to focus on boosting exports and SEZ revival

The Dollar Business Bureau To boost exports, which are declining since December 2014, the Ministry of Commerce and Industry will ask for export credit to qualify as the priority sector and want to emphasise on the special economic zones (SEZs) revival, as the Ministry found six areas to support the exports in goods. The discussion took place during the first meeting of reconstituted Board of Trade, a top advisory board on trade, re-formed as per the provisions of the Foreign Trade Policy (FTP) for 2015-20. In the meeting, chaired by Nirmala Sitharaman, Minister of State for Commerce and Industry, it has been decided to put greater emphasis on encouraging exports by small and medium enterprises (SMEs), involving embassies and missions to enhance ...

Commerce and Industry Notification | De-Notify 12.4851 hectares Of Special Economic Zone

Dated October 26th, 2015 | Copy of | Notification Sl41 dt. 26/10/15 | Whereas, M/s. Bhuvana Comforts Private Limited, a private organization in the State of Karnataka, had proposed under section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act) to set up a sector specific Special Economic Zone for information technology and information technology enabled services including electronic hardware at villages B.M. Kaval and Rachanamadu, Kangeri Hobli, District Bangalore in the State of Karnataka; And, Whereas, the Central Government, in exercise of the powers conferred by sub-section (1) of section 4 of the said Act read with rule 8 of the Special Economic Zone Rules 2006, had notified an area of ...

No reward for service by units in DTA to SEZ units under SEIS

The Dollar Business Bureau Supply of a ‘service’ by units located in DTA (Domestic Tariff Area) to SEZ (Special Economic Zones) units are ineligible for rewards under SEIS (Services Exports from India Scheme). A notification to this effect was released by The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Department of Commerce on June 11, 2015 as a clarification to References that have been received by the DGFT enquiring whether or not supply of a ‘service’ by unit(s) located in DTA to SEZ unit(s) is eligible for rewards under SEIS. The notification also said that “Service Provider” means a person providing supply of a ‘service’ from India to any other country (Cross border trade) and ...

Special Economic Zone for Electronics/Telecom Hardware and support services

Dated March 2, 2015 | Copy of | Notification | Whereas, M/s. State Industries Promotion Corporation of Tamil Nadu Limited had proposed under Section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act) to set up a sector specific Special Economic Zone 'for Electronics/Telecom Hardware and support services including trading and logistics activities at SIPCOT Industrial Area, Sriperumbudur in the State of Tamil Nadu; And, whereas, the Central Government, in exercise of the powers conferred by sub-section (1) of Section 4 of the said Act read with rule 8 of the Special Economic Zones Rules 2006, had notified an area of 189.77.1 hectares and 41.36.9 hectares at SIPCOT Industrial Area, Sriperumbudur ...