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| BoA to consider fresh SEZ proposals on Apr 9 |
| Press Trust of India / New Delhi Mar 10, 2010, 20:05 IST |
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The Board of Approval (BoA), the nodal agency under the Commerce Ministry for special economic zone (SEZ) related issues, will consider fresh applications for setting up of tax-free zones on April 9.
"... The (meeting of) BoA (which will) consider proposals for setting up of SEZs and other miscellaneous requests, is scheduled to be held on April 9," a Commerce Ministry official said, adding this would be the first meeting of the BoA in the next financial year (2010-11).
The BoA is also expected to deliberate on the policy for setting up of units for recycling of plastics in the tax-free enclaves, the official said.
Besides, the board may consider the request of Navi Mumbai SEZ regarding relaxation of conditions of contiguity of land.
The 19-member inter-ministerial BoA, which is headed by Commerce Secretary Rahul Khullar, had cleared 10 proposals for setting up of SEZs including that of port based multi product SEZ by Jawaharlal Nehru Port Trust at Navi Mumbai in its previous meeting last month.
Formal approval has been accorded to 575 SEZ proposals, of which 348 have been approved. A total of 105 have commenced exports.
Under the SEZ Act, units in these zones are given 100 per cent tax exemption on their income for the first five years and 50 per cent in the next five years.
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