Tax Management India. Com
                        Law and Practice: A Digital eBook ...

☞ Data-bank

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News D. Forum
Highlights
What's New  Latest Cases 

Share:      

        Home        
 
Home Circulars 2021 SEZ SEZ - 2021 This
← Previous Next →
  • Login

 

User Login
Username  
Password  
Stay sign in     

Forget password       New User/ Regiser


Register for Demo / Trial


Annual Subscription Offer

With popular demand, we introduce:-
Special offer on GST Package for Professionals
i.e. CA/CWA/CS/Advocate/Others @ 2500/- +GST



 

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ - Minutes of the 104th meeting of the SEZ

Extract

..... . The Board, after deliberations, approved extension of validity of the LoA for a period of one year, i.e. up to 28.06.2021. Item no. 104.3 Change in name/shareholding pattern/merger-demerger (four proposals) 104.3(i) Proposal of M/s Bayline Infocity Limited, developer of Bayline Infocity SEZ at Old Mahabalipuram Road, Chennai, Tamil Nadu for change of shareholding pattern and appointment of new directors. DC, MEPZ informed the Board that M/s KKN Holdings Pvt. Ltd., existing shareholder has amicably settled the dues and do not have an objection to the proposed change in shareholding pattern of M/s Bayline Infocity Ltd. It was further stated that the withdrawal petition filed by the individual investors before the NCLT, Chennai Bench is listed for hearing on 09.06.2021. The Board noted that the matter is sub-judice and the outcome of the petition remains uncertain at this stage. The Board, after deliberations, decided to defer the proposal. 104.3(ii) Request of M/s GV Techparks Private Limited, Developer for proposed demerger of Global Village Tech Park and change in developer status from GV Techparks Private Limited to Mindcomp Regency Park Private Limited (MRPPL). The Board, after .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... tal gains, equity change, transfer, taxability etc. iv. Full financial details relating to change in equity/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, 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 co-developer to CBDT. 104.3(iv) Proposal of M/s Holistic Infra Developers Pvt. Ltd., Co-developer in M/s Phoenix Tech Zone Pvt. Ltd. an IT/ITES SEZ located at Sy no.115/35 at Nanakramguda Village, Serilingampally Mandal, Telangana for transfer of ownership of their company. The Board, after deliberations, approved the proposal for transfer of ownership of the company subject to approval by relevant st .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... ials for the purpose of building construction in Electronic Park SEZ, Gandhinagar which included 250 Tonnes of River Sand (HSN Code 25051020) was placed before the BoA. 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 items viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. 104.4(iii) Procurement of Sand/Soil by Kandla SEZ units and ratification of approval granted under Delegation of Powers granted to Development Commissioner. The proposal from DC, KASEZ for ratification of approval granted by the DC office for procurement of following items was placed before the BoA: Sr. No. Name of the Unit Materials permitted Quantity Permitted Date of approval 1. Computerised Numerical Control (I) Pvt. Ltd. Sand 100 MT 05.11.2020 2. Liladhar Pasoo Forwarders Pvt. Ltd. Sand 1 tractor (half sand) 05.11.2020 3. Milak Warehouse Sand 100 MT 05.11.2020 4. Zetts Cosmetics Pvt. Ltd. Sand 9 trucks/200 MT 05.11.2020 5. Suhavi Pha .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... s of proviso under Rule 27(1) of the SEZ Rules, 2006 subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. 104.4(v) Proposal of M/s Vidhi Specialty Food Ingredients Limited, a unit in Dahej SEZ for procurement of restricted items for SEZ unit infrastructure development and repairing facility in terms of Rule 27 of the SEZ Rules 2006. The proposal from DC, Dahej SEZ for ratification of approval granted by DC office for procurement of following items was placed before the BoA: Description Estimated Quantity Sand (including sand used RMC) 5500 MT Crushed Stone (including stone used for RMC, Road) 7000 MT Granite Stone 20MT Cement 2000 MT 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 items viz. sand, soil etc. subject to the condition that it should be ensured that the allowed items are actually used in the SEZs and all the environmental and other relevant regulations are complied with. 104.5 Proposal for change in sector (one propo .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... ted for co-developer status in the IT/ITES Electronic components and Hardware manufacturing and related services SEZ developed by M/s. Flextronics Technologies India Pvt. Ltd. at SIPCOT Industrial Park, Phase II, Sandavellur "C" Village, Sriperumbudur Taluk, Kancheepuram District. The Board, after deliberations, approved the proposal of M/s. State Industries Promotion Corporation of Tamil Nadu Limited to undertake basic infrastructure facilities in the 60.73 ha of notified area out of total notified area of 76.14 ha viz. roads, storm water drains facility, street lights, water supply distribution lines, avenue plants etc. for facilitating the industrial units proposed to be set up within the said 60.73 ha of notified area subject to execution of necessary co-developer agreement with the developer and compliance with relevant provisions of SEZ Act and Rules. The lease period shall be in accordance with DOC' s Instruction no. 98 dated 29.08.2019. 104.6(iii) Request of M/s. Finefacilis Management Private Limited for co-developer status in M/s. Platinum Holdings Private Limited SEZ for IT/ITES located at #2/1, Abu Garden, Navalur, OMR (Rajiv Gandhi Salai), Chennai. The Bo .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... 104.8 Miscellaneous cases (one proposal) 104.8(i) Proposal of plastic recycling and worn and used clothing units in Kandla, Falta and Noida SEZs for renewal of their Letter of Approval in terms of Rule 18(4) (a) & (c) of the SEZ Rules, 2006. The Board noted that the revised policy for worn/used clothing and plastic recycling units in SEZs was finalized in consultation with the stakeholders, approved by the Competent Authority and circulated by the Department of Commerce vide letter dated 27.05.2021. The LoA of total 48 such units as detailed below is to expire on 30.06.2021 : Worn/used clothing Plastic recycling Kandia SEZ 17 23 Falta SEZ 1 6 Noida SEZ - 1 The revised policy circulated vie DOC letter dated 27.05.2021 stipulates as follows. A. Worn and Used Clothing units: 1. Setting up of new units in SEZ/EOUs is not allowed. 2. Extension/renewal of LoA of existing units will be considered for a period of five years by Board of Approval. 3. Besides the NFE obligations, the units shall be required to comply with to the extent - 1. 66.67% i.e. 2/3rd of the exports in terms of annual turnover and 2. 50% in terms of tonnage. 4. They shall be allowed to make clearance in DTA, to ot .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... competent authority under any statue before granting formal orders and renewal. Further, it may also be ensured that the policy conditions are strictly adhered to. Decision on Supplementary Agenda Item no. 104.9 Extension of validity of LoA (one proposal) 104.9 (i) Extension of LoA issued to M/s. Amtech Electronics (India) Ltd., Plot No. 5, 6 & 7, GIDC- Electronic Park SEZ, Gandhinagar on 07.09.2009. The Board noted that even after a lapse of 12 years since the LoA was granted, the unit had failed in their commitment of construction/commencement of production. The LoA of the unit deemed to have been lapsed on 08.05.2014 and accordingly, the Board decided to reject the request of the unit for renewal of LoA. The Board noted that they have applied afresh for setting up a unit and the fresh application can be considered separately on merits by the Approval Committee. 104.10 Change in shareholding pattern (one proposal) 104.10(i) Request of M/s Candor Kolkata One Hi-Tech Structures Pvt. Ltd. IT/ITES SEZ at Plot no. l, Block No. DH, Street no. 316, New Town, Rajarhat, Kolkata for change of shareholding pattern of the company. The Board, after deliberations, approved the proposal for .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... posal and directed DC, MEPZ to examine the issues comprehensively and furnish a clear inspection report so that the proposal may be considered by the Board. 104.12 Miscellaneous cases (two proposals) 104.12(i) Proposal of M/s Pfizer Healthcare India Pvt. Ltd. (formerly M/s Hospira Healthcare India Pvt. Ltd.), a unit in M/s Ramky Pharma City Pvt. Ltd. SEZ for extension of the block period for calculation of NFE in terms of Rule 53 of the SEZ Rules, 2006. The Board noted that the proviso under Rule 53 of the SEZ Rules, 2006 stipulates that where a unit is unable to achieve NFE due to adverse market conditions or any ground of genuine hardship having adverse impact on functioning of the unit, the five years block period for calculation of NFE earnings may be extended by the BOA for a further period of upto one year, on a case to case basis. The Board also observed that in the instant case, the unit has not indicated any such ground of genuine hardship which was adversely affecting the functioning of the unit and non-achievement of positive NFE mandated under SEZ law. The Board noted that in the absence of any valid grounds as provided under the Rule, there is no scope for considering .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

..... ant 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 developer to CBDT. ***** ANNEXURE - I List of Participants for the Meeting of the Board of Approval for Special Economic Zones held on 28th May, 2021 under the Chairmanship of Commerce Secretary, Department of Commerce. 1. Shri Anup Wadhawan, Chairman, BoA & Commerce Secretary, Department of Commerce. 2. Shri S. Kishore, Additional Secretary, Department of Commerce. 3. Shri Amit Yadav, DG, DGFT. 4. Shri Amitabh Kumar, Joint Secretary, Department of Commerce. 5. Shri Senthil Nathan S, Director, Department of Commerce. 6. Shri Shanmuga Sundram, Development Commissioner, MEPZ 7. Shri D. Anandan, Development Commissioner, Sri City SEZ. 8. Dr. Amiya Chandra, Development Commissioner, Adani Port SEZ, Mundra. 9. Shri D. V. Swamy, Development Commissioner, CSEZ. 10. Shri A. Rama Mohan Reddy, Development Commissioner, Visakhapatnam SEZ. 11. Shri A. Bipin Menon, Development Commissioner, Noida SEZ. 12. Shri R. Muthuraj, Development Commissioner, GIFT & Dahej SEZ. 13. Shri Virendra Si .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Minutes of the 104th meeting of the Board of Approval for SEZ held on 28th May, 2021 to consider setting up of Special Economic Zones and other miscellaneous proposals - SEZ

X X   X X   Extracts   X X   X X

 

← Previous Next →

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||