TaxTMI 
TaxTMI 
Minutes of the 105th meeting of the Board of Approval for SEZ held on 29th July, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals
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....n (Haryana) beyond 29.10.2021. The Board, after deliberations, approved extension of the validity of formal approval up to 29th October, 2022. 105.2(ii) Proposal of M/s State Industries Promotion Corporation of Tamil Nadu Ltd. (SIPCOT) Industrial Park, Bargur for extension of validity of LoA in respect of Multi Sector SEZ for granite processing at Bargur, Uthangarai & Pochampalli Taluk, Krishnagiri District, Tamil Nadu. The Board, after deliberations, approved extension of the validity of formal approval up to 10th March, 2022. 105.2(iii) It was noted that the agenda item pertained to the request for extension of validity of LOA of a unit and was inadvertently listed under the current section. The same has been accordingly placed under the relevant heading as item no. 105.3(iv). 105.3 Request for extension of LoA of the units (four proposals) 105.3(i) Request of M/s. Knitpro International (Unit-III) in Mahindra World City (Jaipur) Ltd., Multiproduct SEZ at Village- Kalwara, Tehsil-Sanganer, Jaipur (Rajasthan) for third extension of Letter of Approval (LoA) for a further period of one year i.e. upto 07.03.2022. The Board, after deliberations, approved extension ....
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....s arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The co-developer shall furnish details of PAN and jurisdictional assessing officer of the codeveloper to CBDT. 105.4(ii) Request of M/s Bayline Infocity Limited, developer for taking on record the change of shareholding pattern and the appointment of new Directors of the Developer. The Board noted that the matter was deferred by the Board earlier in its 102nd and 104th meetings held on 06.01.2021 and 28.05.2021 respectively as the individual investors had raised an objection to the proposed change in shareholding pattern and filed a petition before the NCLT, Chennai Bench challenging the same. The matter was sub-judice. Now, vide NCLT order dated 11.06.2021, the petition stands dismissed as withdrawn. The Board, after deliberations, approved the proposal for change of shareholding pattern and for the appointment of new Dir....
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....merger, demerger, amalgamation or transfer in ownership etc. shall be furnished immediately to Member (IT), CBDT, Department of Revenue and to the jurisdictional Authority. v. The Assessing Officer shall have the right to assess the taxability of the gain/loss arising out of the transfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The co-developer shall furnish details of PAN and jurisdictional assessing officer of the co- 105.4(iv) Request of M/s. Anomalous Infra Private Limited (co-developer) at Arshiya Limited-FTWZ, Panvel, Raigad for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern of the company subject to approval by relevant statutory body with the following conditions:- i Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer enti....
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....ansfer of equity or merger, demerger, amalgamation, transfer and ownerships etc. as may be applicable and eligibility for deduction under relevant sections of the Income Tax Act, 1961. vi. The applicant shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the 105.4(vi) Proposal of M/s. Sak Synergy Realty Private Limited, Co-developer of ASF Insignia SEZ Private Limited IT/ITES SEZ at Village Gwal Pahari, Gurugram (Haryana) for change in shareholding pattern of the company. The Board, after deliberations, approved the proposal for change in shareholding pattern of the company subject to approval by relevant statutory body with the following conditions:- i. Seamless continuity of the SEZ activities with unaltered responsibilities and obligations for the altered co-developer entity; ii. Fulfilment of all eligibility criteria applicable to co-developer, including security clearances etc., by the altered co-developer entity and its constituents; iii. Applicability of and compliance with all relev....
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.... shall comply with relevant State Government laws, including those relating to lease of land, as applicable. vii. The developer shall furnish details of PAN and jurisdictional assessing officer of the 105.5 Procurement of restricted items from DTA (eleven proposals) 105.5(i) Permission for procurement of sand, a restricted item, from Domestic Tariff Area by M/s. Arima Minerals & Metals Pvt. Ltd., VSEZ. The proposal from DC, VSEZ for approval for procurement of 200 MT sand by the unit namely, M/s Arima Minerals & Metals Pvt. Ltd. for undertaking civil works was placed before the Board of Approval. The Board, after deliberations, approved the proposal in terms of proviso under Rule 27(1) of the SEZ Rules, 2006 subject to the condition that it should be ensured that the allowed item is actually used in the SEZ and all the environmental and other relevant regulations are complied with. 105.5(ii) Ratification of permission for procurement of sand, a restricted item from Domestic Tariff Area granted to M/s. Kusalava International Ltd., VSEZ. The proposal from DC, VSEZ for ratification of approval granted by DC office to M/s Kusalava International Ltd. to procur....
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....) Pvt. Ltd. Sand 3 dumpers 16.06.2021 7. Shri Guru Shipping & Logistics Sand 150 cubic meter 29.06.2021 8. Shreeji Exports Sand 300 MT 29.06.2021 9. Euro India Cylinders Ltd. Sand 20 MT 29.06.2021 The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoC's instruction dated 18.05.2020 for procurement of restricted item viz. sand subject to the condition that it should be ensured that the allowed items are actually used in the SEZ and all the environmental and other relevant regulations are complied with. 105.5(v) Proposal for procurement of restricted items by M/s Godrej & Boyce Mfg. Co. Ltd., a unit in Dahej SEZ for infrastructure development & repairing facility in terms of Rule 27 of SEZ Rules 2006. The proposal from DC, Dahej SEZ for ratification of approval granted by DC office to M/s Godrej & Boyce Mfg. Co. Ltd. to procure the following items for setting up and repairing of infrastructure facilities was placed before the BoA: Description Estimated Quantity Sand (including sand used for RMC) 14426 MT Stone (including stone used for RMC, Road ....
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....ed for their authorized operations. The proposal from DC, SEEPZ SEZ for ratification of approval granted by the DC office to M/s Sarveshwar Logistics Services Private Limited for procurement of following items was placed before the BoA: Sl. No. Item Quantity (cu.m.) 1 River sand 2500 2 Crusher Sand (Grit Powder) 1750 The Board, after deliberations, decided to ratify the approval granted by the Development Commissioner under DoCs instruction dated 18.05.2020 for procurement of restricted item viz. sand subject to the condition that it should be ensured that the allowed items are actually used in the SEZ and all the environmental and other relevant regulations are complied with. 105.5(viii) Request of M/s. Roma Builders Pvt. Ltd, Developer of an IT/ITES SEZ at Hiranandani Estate Off. Ghodbundar Road, Village Kevesar, Thane for approval of sand procurement for construction activity as per default authorized operations. The proposal from DC, SEEPZ SEZ for ratification of approval granted to M/s Roma Builders Pvt. Ltd. for procurement of 80 cu.m. of sand for construction activity was placed before the Board of Approval. The Board, after delibera....
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....Board noted that fourth proviso under Rule 27 (1) of the SEZ Rules, provides for supply of raw material (restricted) to SEZ unit for undertaking a manufacturing operation except refrigeration, cutting, polishing and blending with the prior approval of BoA. The issue that the proposed manufacturing activity of the unit involved cutting and grinding was raised. The Board, after deliberations, decided to defer the proposal with the directions to DC, NSEZ to examine the activity proposed by the unit and submit a report. 105.6 Request for co-developer status (four proposals) 105.6(i) Request of M/s. Fulcrum Worldwide Software Pvt. Ltd. for approval as a Co-Developer in the MIDC IT/ITES SEZ at mot no. 23/4, Rajiv Gandhi Infotech Park, Hinjewadi, Phase-III, Pune. The Board, after deliberations, approved the proposal of M/s. Fulcrum Worldwide Software Pvt. Ltd. for co-developer status for the purpose of construction of all type of buildings in processing area, operation and maintenance of infrastructure and leasing of floors to SEZ units and all other authorized operations over an area of 0.60 hectares (6000 sq. mtr) in accordance with the co-developer agreement dated 11.10.201....
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....e of New Development Bank at GIFT IFSCSEZ, Gandhinagar. The Board noted that the Department of Commerce, vide notification no. GSR 424(E) dated 16.06.2021, had inserted Rule 21A in the SEZ Rules, 2006, inter-alia, allowing a multilateral agency to set up their local or regional office in the IFSC as a unit. As per the said notification, notwithstanding anything contained under the Rules, the BoA may exempt such units from any provisions of these Rules including provisions relating to positive NFE earning or filing of APR or such other exemption, based on the recommendations of the DC. Based on the request from IRO, DC, GIFT City SEZ had recommended to exempt the IRO from certain provisions of SEZ Rules as per the following table:- Sr. No. Items for exemption Specific Act/Rule provisions from which exemption is sought 1 Information related to Bank Account, PAN, IEC Number Under Rule-17 & 18 of the SEZ Rules, 2006 (Form-F - Application) 2. Payment of application fee Under Rule-17 of the SEZ Rules, 2006 (Form-F - Application) 3. Annual Performance Report Under Rule-22 of the SEZ Rules, 2006 4. Details related to Net Foreign E....
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....t. the procedure followed by DPIIT for such licensing outside the SEZs. 105.9 Appeal (One appeal) 105.9(i) Appeal dated 29.06.2021 filed by M/s Indian Heritage Perfumers under Rule 55 of the SEZ Rules, 2006 against the decision of Approval Committee which had unanimously decided not to renew the LoA for 2nd block. The Board noted that the appeal is time barred as per Rule 56 of the SEZ Rules, 2006. However, the Board decided to condone the delay and consider the case on merits. Accordingly, the Board heard the appellant. The Board noted that the unit has made an export of Rs. 70 lakhs in the past five year block and was NFE positive. The appellant informed that they have already invested approximately an amount of Rs. 1 crore and assured that the unit can revive within a period of one month and would generate employment for 8-15 persons, The unit has orders from Dubai and Jeddah and their stocks are ready. They shall commence export within a period of three months and are expecting to achieve an annual turnover of approx. Rs. 5 crore. The Board, after deliberations, decided to allow the appeal and restore the LoA of the appellant. Decision on Supplementary Agenda ....