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New strategies on SEZ projects issued by the Union Commerce and Industry Ministry

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As per the sources saying at the www.propertykhazana.com the central Commerce & Industry Ministry has passed a new course of action for the state government to pursue a single window authorization system for SEZ projects and builders.
It is to be recalled here that the Union Government has passed similar instructions to the state governments but it was not put into the practice for many undisclosed reasons. According to the latest orders, the SEZ Units and the builders are given the exception from paying the Value Added Tax (VAT) and stamp duties in the development area and this decision was finalized in the Union Cabinet in presence of the concerned officers and the Commerce and Industry Minister and the state government representatives.
With the new guidelines the state governments have conveyed its glad to the Central Government and all the state governments have come forward to implement the new rules in their states, added the source at the www.propertykhazana.com. Further, the Ministry of Commerce and Industry is planning to form a committee comprising the senior officials of the concerned departments and the SEZ projects approval will only be done by the committee. Similarly, for the Units, the committee is to be formed with the Commissioner of the particular zone or region along with the senior Central and State officers and this committee will check with the clearance from the required departments like, Excise and Unit Sanctions.
Source: NBTVLIVE

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