The Hindu Business Line : UP gives tax rebate for SEZ investments

LUCKNOW: Uttar Pradesh government has announced several tax rebates besides simplifying process for approval of building layouts to promote investment in Special Economic Zones (SEZ).

“During a high level meeting of industrial department held last evening it was decided that units being set up in SEZs will get a rebate on entry tax from June 30,'' Udyog Bandhu spokesman said here on Thursday. He said these units will get entry tax wa vier like export oriented units.

“Arrangements have been made for speedy approval of layout of buildings to be constructed under SEZ,'' he said.

Under the system, Unit Approval Committee headed by Noida and Greater Noida officials will approve layouts on the spot. Officials were also directed to ensure that VAT deposited by units set up in SEZ was refunded as these units are exempted from VAT wi th effect from January 1, 2008.

The officials said that Board of Approval of the central government has approved 19 SEZs, of which six will be developed by the state government. They said, despite recession Moradabad SEZ registered an increase of 27.5 per cent in exports.

“As against Rs 11.24 crore export in 2007-08, goods worth Rs 14.33 crore were exported in 2008-09,'' they said. - PTI

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