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In a recent ruling, the Gujarat High Court has granted permission to the State GST department to initiate legal proceedings against the establishment situated within the premises of the Special Economic Zone (SEZ). The bench of justices Ashutosh Shastri and J.C. Doshi has observed that the respondent departments are authorised to carry out operations in […]
In 2017, the GST which is a destination-based consumption tax was incorporated. As per the GST framework, particularly for the businesses that are involved in the exports and supplying the Special Economic Zones (SEZs), the concept of zero-rated supply poses influential importance. The provision of goods or services that are either exported or provided to […]
Directing towards the current “legal and regulatory framework” concerned to ship leasing and financing exercises in India is “less favourable” with respect to the hubs all over the world like Panama, Dubai and Singapore, a statement tendered to the International Financial Services Centres Authority (IFSCA) at GIFT City has suggested the revision in the GST […]
While permitting the refund of Goods and service tax (GST) towards the special economic zone (SEZ) by the Madras High court, it ruled that any individual can furnish for the refund beneath section 54 of the CGST act. Special economic zone (SEZ) is the applicant and shows the buyings from various suppliers or vendors for […]
The income which comes through the tenant by providing it on rent with facilities in the industrial park or SEZ has to be called as the business income of the property owner said Madras High Court while holding the order for the tribunal. The problem was raised for the case or the fact, the Income […]
Soon the Special Economic Zones Rules 2006, to comply with goods and services tax compliance after the much conclusive 28th GST council meeting.
GST, with the hope of billions to provide a better way to transact in a business and to eliminate the cascading effects under the previous tax system, it is the biggest tax reform in India ever. Although the system is very new to all and the taxpayers are not well-versed with the new indirect tax nomenclatures, we can expect that by the time it will go flawlessly.
The centre and its financial department are gearing up for the upcoming GST regime and some of the first reformations are being taken into the SEZ Zone acts. Banikinkar Pattanayak, a government official said that The government will soon tweak certain fiscal provisions of the special economic zones (SEZ) Act, as it gears up to introduce the goods and services tax (GST) regime in the country.
The past six years have seen more than 1,000 notifications, circulars, and instructions for assesses and adjudicating authorities, therefore opening up the GST law to interpretation by assesses and authorities identical. The same interpretation has furnished an increase to the rising case laws across different judiciaries and writ petitions being filed to various High Courts […]
