TaxTMI 
TaxTMI 
Setting up of SEZs
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....etting up of SEZs <br>News and Press Release<br>Dated:- 10-11-2010<br><BR>In terms of the SEZ Act, 2005 a SEZ may be set up either jointly or severally by the Central Government, State Govt. or any pe....
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....rson for manufacture of goods or rendering services or for both or as a free trade warehousing zone. Such proposals duly recommended by the concerned State Government are considered by the Board of Ap....
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....proval for SEZs. In addition to seven Central Government Special Economic Zones (SEZs) and 12 State/Private Sector SEZs set up prior to the enactment of SEZ Act, 2005, formal approval has been accorde....
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....d to 578 proposals out of which 367 SEZs have been notified. A total of 122 SEZs are already exporting. Setting of SEZ unit and its functioning is regulated as per the provisions of SEZ Act 2005 and....
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.... rules framed thereunder. The Approval Committees under the Development Commissioners constituted for each Zone, which comprise representatives from Customs, Income-tax, State Governments etc. have be....
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....en directed to monitor the performance of the SEZ Units. This includes scrutiny of Annual Performance Report (APR), Quarterly Performance Report (QPR) and details of rent recovery. Failure to meet the....
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.... requirements of the scheme or any violation attracts action under Foreign Trade (Development and Regulation) Act, 1992. This was stated by Shri Jyotiraditya M Scindia, Minister of State for Commerc....
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....e and Industry, in a written reply in the Rajya Sabha today.<BR> News - Press release - PIB....