TaxTMI 
TaxTMI 
Minutes of the 119th meeting of the Board of Approval for SEZs held on 06th March, 2024 at Vanijya Bhawan, New Delhi
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Villages, Ponneri, Thiruvalur District, Tamil Nadu. The Board, after deliberations, approved extension of the validity of formal approval for one year upto 02.10.2024. 119.2(ii) Request of M/S. G.P. Realtors Pvt. Ltd. for extension of the validity of formal approval granted for setting up of Electronic Hardware & IT/ITES SEZ at Village Behrampur, Balola & Bandhwari, Distt- Gurugram (Haryana). The Board has observed that comments from Department of Industries & Commerce, Government of Haryana is awaited in the matter. In this regard, Department of Industries & Commerce, Government of Haryana has informed the Board that they had sought comments from Town and Country Planning (TCP), Haryana and the same has not received yet by them. Once they receive comments from TCP, Haryana, they would provide their comments/approval in the matter. The Board, after deliberations, granted approval for extension of the validity of the formal approval for one more year and regularised the period from 25.01.2020 subject to the condition that the extension shall be valid subject to obtaining requisite approval from the Department of Industries & Commerce, Government of Haryana. 119.3: Re....
X X X X Extracts X X X X
X X X X Extracts X X X X
....uest of M/s. Spectrum IT Society, Co-Developer for M/s. Phoenix Spaces Pvt. Ltd, SEZ for ITATES at Sy. No. 285 Kokapet Village, Rajendra Nagar Mandai, Ranga Reddy District, Telangana for transfer of Formal Approval and CoDeveloper status to M/s. Evermark IT Developers Pvt. Ltd. The Board, after deliberations, approved the proposal for transfer of Formal Approval and Co-Developer status from M/s. Spectrum IT Society to M/s. Evermark IT Developers Pvt. Ltd. in M/s. Phoenix Tech Zone Pvt. Ltd. The proposed Co-Developer will be taking the existing bare shell on lease from the landowners for the purpose of sub-leasing to IT SEZ units and for the purpose of operations and maintenance, over 1.178 million sq.ft. of built-up area, in accordance with the Co-developer agreement dated 02.01.2024 entered into with the Developer subject to standard terms and conditions as per the SEZ Act and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by way of lease rentals/down payment/premium etc. for the purpose of assessment under the prevalent Income-tax Act, 1961 and Income-tax Rules, 1962 as amended from time to time. The lease period shall be in a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....renewal of their LoA. The Board had heard the appellant in its 115th meeting held on 17.06.2023 and has also taken note of the report submitted by the Committee constituted as per directions of the Board in its 117 the meeting held on 17.11.2023 to examine all the aspects of M/s. Plastic Processors & Exporter Pvt. Ltd. and other similarly placed Units. The Board, after deliberations, approved renewal of the LoA of the Unit for five years subject to the following conditions: - i. The Unit shall ensure necessary funding is arranged within 3 months of the date of approval of extension and construction commences immediately to ensure that commercial production commences within 24 months of the date of approval. ii. The Unit would ensure their first export orders within 18 months from date of renewal of LoA. No further request will be considered to extend this time limit of 18 months. iii. No DTA sales would be allowed during the period of this 5-year extension irrespective of fulfilling of NFE and other conditions. Thereafter, DTA sales may be allowed as per prevailing norms. iv. Exit of the Unit in terms of Rules 74 and Transfer of its Assets in terms of Rule 74A of ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....d the Specified Officer has issued No Dues Certificate on 20.02.2024. ii. The Developer has confirmed that while assessing the tax liability all social and common infrastructure facilities built up in the processing and proposed non-processing area and they have refunded the entire amount and submitted No Dues Certificate from the Specified Officer. iii. The Developer has submitted an Undertaking that they shall remit any differential duty / tax benefits which might have been short-paid, if it so determined at a later date and also comply with the provisions of Rule 11B. Accordingly, the Board has approved the request of M/s. DLF Limited, New Town, Rajarhat, Kolkata, for demarcation of SEZ Processing Built-up area (11977 sq.mtr.) as Non-Processing Area in terms of Rule 11B of SEZ Rules, 2006. 119.7(ii) Request of M/s. Modern Asset, Developer, for demarcation of SEZ Processing Built-up area (54781.63 sq.mtr.) as Non-Processing Area in terms of Rule 11B of SEZ Rules, 2006. The Board has observed the followings: - i. The Developer has refunded an amount of Rs.12,47,77,730/- (Rupees Twelve Crore forty-seven lakh seventy-seven thousand seven hundred thirty only) toward....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y, Central Goods and Services Tax, Integrated Goods and Services Tax and State Goods and Services Tax and such other Central levies and repayment of tax benefits like drawback attributable to the area to be demarcated as NPA as stipulated under the Rule 11B. ii. Full repayment of the amount of Customs duty, Central Excise duty, Central Goods and Services Tax, Integrated Goods and Services Tax and State Goods and Services Tax and such other Central levies and repayment of tax benefits like drawback attributable to the common infrastructure area as stipulated under the Rule 11B. iii. Submission of an Undertaking that the Developer shall remit any differential duty / tax benefits which might have been short-paid, if it so determined at a later date and also comply with the provisions of Rule 11B. The Board noted that the aforesaid decision taken in the previous meeting of the board was taken in concurrence with DoR in anticipation of the principles for determination of payment of duty benefits will be laid down very fast. However, the Board has noted that concurrence of DoR in this regard is still awaited by DoC. Accordingly, the Board has requested DoR to immediately furn....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ES SEZ. 119.9(ii) Request of M/s. NSL SEZ (Hyderabad) Pvt. Ltd, Developer, IT/ITES SEZ at IDA Uppal, Ranga Reddy District, Telangana for demarcation of their SEZ under Rule 11B of SEZ (Fifth Amendment) Rules, 2023. 119.9(iii) Request of M/S. DLF Info City Hyderabad Ltd., Developer, IT/ITES SEZ at Gachibowli Village, Serilingampally Mandal, Ranga Reddy District, Telangana for demarcation of their SEZ under Rule 11B of SEZ (Fifth Amendment) Rules, 2023. The Board has observed that in the 118th meeting of the BoA held on 06.02.2024, the Board had taken decision and approved the proposals for demarcation of Processing Area into Non-Processing Area under the Rule 11B of the SEZ Rules, 2006 subject to the following conditions: - i. Full repayment of the amount of proportionate Customs duty, Central Excise duty, Central Goods and Services Tax, Integrated Goods and Services Tax and State Goods and Services Tax and such other Central levies and repayment of tax benefits like drawback attributable to the area to be demarcated as NPA as stipulated under the Rule 11B. ii. Full repayment of the amount of Customs duty, Central Excise duty, Central Goods and Services Tax, Integrate....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Tower 1, (including Basement, Stilt floor + 13 floors + Terrace), as Non-Processing Area, in terms of Rule 11B of SEZ Rules, 2006. 119.9(v) Request of M/s. Arliga Ecoworld Infrastructure Pvt. Ltd. (formerly M/S. RMZ Ecoworld Infrastructure Pvt. Ltd.), Developer, for demarcation of SEZ Processing built-up area (38253.26 sq.mtr.) as Non-Processing Area in terms of Rule 11B of Rules, 2006. 119.9(vi) Request of M/s. Infoparks Kerala, Co-Developer of Kerala State IT Infrastructure Limited for demarcation of SEZ Processing built-up area (5574 sq.mtr.) as Non-Processing Area in terms of Rule 11B of SEZ Rules, 2006. The Board has observed that in the 118th meeting of the BoA held on 06.02.2024, the Board had taken decision and approved the proposals for demarcation of Processing Area into Non-Processing Area under the Rule 11B of the SEZ Rules, 2006 subject to the following conditions: - i. Full repayment of the amount of proportionate Customs duty, Central Excise duty, Central Goods and Services Tax, Integrated Goods and Services Tax and State Goods and Services Tax and such other Central levies and repayment of tax benefits like drawback attributable to the area to be demarc....
X X X X Extracts X X X X
X X X X Extracts X X X X
....M/s. GGG Developers LLP for grant of co-developer status in the IT/ITES SEZ of M/s. Artha Infratech Pvt. Ltd. located at Plot No. 21, Sector Techzone IV, Greater Noida, Uttar Pradesh The Board, after deliberations, approved the proposal of M/s. GGG Developers LLP for Co-developer status in M/s. Artha Infratech Pvt. Ltd. for Conversion from warm shell to total ready to move in infrastructure and renovation of existing furniture & fit outs including maintaining and managing facility management on One floor (13^th floor) of Tower No.l of approx. 341 13 sq.ft. Super area of SEZ, in accordance with the Co-developer agreement dated 22.1 1.2023 entered into with the Developer subject to standard terms and conditions as per the SEZ Act and Rules. Further, the Assessing Officer will have the right to examine the taxability of the income by way of lease rentals/down payment/premium etc. for the purpose of assessment under the prevalent Income-tax Act, 1961 and Income-tax Rules, 1962 as amended from time to time. The lease period shall be in accordance with DoC's Instruction No. 98 dated 29th August, 2019. 119.12(ii) Request of M/s. Shivalik SEZ Projects LLP, Ahmedabad for app....
X X X X Extracts X X X X
X X X X Extracts X X X X
....9.15: Appeal (2 cases) 119.15(i) Appeal filed by M/s. Arshiya 3PL Services Private Limited against the decision of UAC, NSEZ dated 04.01.2024. 119.15(ii) Appeal filed by M/s. Srikaram Prescience Private Limited against the decision of UAC, NSEZ dated 04.01.2024. The Board heard the appellant and observed that there is vitiation of the proceedings in issuing Order and withdrawing the permissions by DC, NSEZ. The Board, after deliberations, agreed to the prayer of the appellants and remanded the appeals [item No. 119.15(i) to (ii)] back to DC, NSEZ with direction to grant them an opportunity of being heard and thereafter, decide the case on merits. 119.16: Request for conversion of processing area into non-processing area under Rule 11(B) (7 proposals) 119.16(i) Request of M/s. Infopark Properties Limited, Developer, for demarcation of SEZ Processing Built-up area (38,007.61 sq.mtr.) as Non-Processing Area in terms of Rule 11B of SEZ (Fifth Amendment) Rules, 2023. 119.16(ii) Request of M/s. DLF Info City Chennai Limited, Developer, for demarcation of SEZ Processing Built-up area (32,907 sq.mtr.) as Non-Processing Area in terms of Rule 11B of SEZ Rules, 2023. 1....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the board was taken in concurrence with DoR in anticipation of the principles for determination of payment of duty benefits will be laid down very fast. However, the Board has noted that concurrence of DoR in this regard is still awaited by DoC. Accordingly, the Board has requested DoR to immediately furnish their concurrence / comments, if any to DoC such that the principles for determination of payment of duty benefits are laid down and necessary instructions providing clarity in this regard are issued by DoC. The Board, after deliberation, deferred the proposals [item No. 119.16(i) to (vii)]. 119.17: Request for conversion of wing wise floor processing area into non-processing area under Rule 11(B) (4 proposals) 119.17(i) Request of M/s. EON Kharadi Infrastructure Pvt. Ltd., Phase I for approval of Demarcation of Built up Floors as Non-Processing Area (NPA) of notified IT/ITES SEZ. 119.17(ii) Request of M/s. Midas Projects Pvt. Ltd, Co-Developer for M/s. Divyasree NSL Infrastructure Pvt. Ltd, IT/ITES SEZ at Raidurg Village, Serilingampally Mandai, Ranga Reddy District, Telangana for demarcation of their SEZ under Rule 11B of SEZ (Fifth Amendment) Rules, 2023. 1....