SEZ - BOA Cancels Approval of 56 SEZs
THE Board of Approval (BoA) for Special Economic Zones (SEZ) in its recent meeting has decided to cancel the formal approval/notification, as the case may be, in 56 cases. The approval is subject to the DC furnishing a certificate in the prescribed format certifying that the developer has not availed any tax/duty benefits including Service Tax Exemptions, if any, under SEZ Act/Rules, or has refunded any such benefits availed by it.
These include 6 units in Madhya Pradesh, 4 in Gujarat, and 20 in the erstwhile State of Andhra Pradesh.
This action will release huge amounts of land allotted to these SEZs. These are SEZs approved in the years 2006 to 2009.
Until Monday with more DDT
Have a nice weekend.
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