• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , Feb. 10

THE Association of Chambers of Commerce wants developers of Special Economic Zones (SEZs) exempted from VAT (value added tax).

In a representation to the Commerce Minister, Mr Kamal Nath, the Assocham President, Mr Mahendra K. Sanghi, said that as SEZ developers are fully exempt from sales tax, they should also be exempted from VAT, its replacement.

This exemption would be revenue neutral.

Mr Sanghi said the Finance Ministry white paper on VAT already exempts SEZ occupants, and so should be their developers.

Assocham further wants all exemptions allowed to SEZ developers under the Exim policy extended also to their co-developers.

Currently, Section 20 of the policy provides only exemption from Central taxes to developers.

On the minimum area requirement for SEZs for ITES/BPO, Mr Sanghi said it should be relaxed to 10 acres.

Sixty-six per cent of the area should be utilised for IT/ITES occupants and the remaining set aside for retail, residential and other infrastructure zones, usually created away from the cities.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
12 districts in Kerala record `excess' rain

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line