The IT and IT-enabled services industry here has sought the reduction in minimum alternate tax (MAT) to 5 per cent in the Budget 2013-14 for all IT companies operating in SEZs. The Finance Minister is slated to announce on Thursday the budget proposals for the next fiscal. ...
03:08 PM, Feb 25, 2013
Hinting that there was no immediate breaking of the deadlock over its stalled project in West Bengal, IT bellwether Infosys has said it is awaiting the response of the Mamata Benerjee government on according SEZ status or attributing similar benefits to its proposed Rajarhat project. ...
01:07 AM, Dec 10, 2012
Mumbai: The government is considering steps to ensure that SEZs remain attractive destinations for investment, Commerce and Industry Minister Anand Sharma said on Thursday. He admitted that SEZs had seen a gradual slowdown though they account for more than a quarter of country's exports. Sharma said he had written to the finance minister to reconsider withdrawing the Minimum Alternate Tax and the Dividend Distribution Tax. "Access to cheap credit at...
06:13 PM, Aug 23, 2012
New Delhi: The government will come out with new guidelines to revive export hubs, special economic zones (SEZs), which have lost sheen after imposition of certain levies and proposal to take away tax incentives. The government had imposed Minimum Alternative Tax (MAT) and Dividend Distribution Tax (DDT) on SEZs in 2010-11, which were earlier exempted from almost all levies. Admitting that due to imposition of MAT and DDT, there has...
05:31 AM, Jun 06, 2012
Kolkata: In line with Trinamool Congress' opposition to SEZ, the West Bengal government on Wednesday scrapped the state Special Economic Zone Act, 2003. The decision was taken at a meeting of the cabinet committee on industry presided over by Chief Minister Mamata Banerjee, Industry Minister Partha Chatterjee told reporters here. The act stipulated the waiver of electricity tariff in full without any restriction of period, stamp duty, registration fees, import...
09:54 PM, May 23, 2012
Kolkata: West Bengal Chief Minister Mamata Banerjee on Thursday assured Infosys of assistance in setting up its unit in the state, but reiterated her government's stand of not allowing SEZ status to the IT major. Replying to the debate on the Governor's address, the chief minister said it was her government's policy not to allow SEZ status and she could not change the decision. Stating that there was a land...
08:28 PM, Mar 22, 2012
Kolkata: Ruling out SEZ status to IT major Infosys, West Bengal Chief Minister Mamata Banerjee on Monday said the state government has decided against the special economic zones and will stick to it. "It can't be that we will give SEZ status to Infosys and not give it to others when we have taken a policy decision that we will not go for SEZ. We cannot discriminate against the law....
08:15 PM, Mar 12, 2012
Kolkata: The West Bengal government on Friday assured IT major Infosys of all support to establish its first facility in the state but reiterated its stand of not allowing special economic zones (SEZ). "We will try to provide the benefits they would require to set up the facility. I have asked them to come and discuss the issues across the table. A decision will only be taken after that," state...
01:47 AM, Feb 25, 2012
THIRUVANANTHAPURAM: Thiruvananthapuram will soon turn into an entertainment hub of the country with the Union Government according Special Economic Zone (SEZ) status to the Kerala Industrial Infrastructure Development Corporation (Kinfra) Film and Video Park (KFVP) at Kazhakkoottam. Kinfra Film and Video Park, an ISO 14001: 2004 certified company, is the first Infotainment Industrial Park in the country in a beautifully landscaped area of 75 acres of land. The Park is...
10:46 AM, Feb 17, 2012
Kolkata: West Bengal Industries and Commerce Minister Partha Chatterjee on Tuesday said IT major Infosys Technologies should "realise" the position of the state government on special economic zones (SEZs). Infosys has got 50 acre of land recently at Rajarhat near the metropolis for setting up the first IT facility in West Bengal. The company had reportedly written to Hidco, which allotted the land, saying that the company had applied to...
03:32 AM, Feb 15, 2012
New Delhi: The Government on Tuesday permitted IT software major Tata Consultancy Services (TCS) to set up a Special Economic Zone at Indore in Madhya Pradesh, even as it allowed Videocon group to pull out from its SEZ project at Jalpaiguri in West Bengal. "SEZ proposal by TCS has been cleared," a Commerce Ministry official said after meeting of the Board of Approval (BoA). The green signals to TCS and...
04:35 PM, Jan 24, 2012
New Delhi: Mobile handset market leader Nokia, with manufacturing facility in an SEZ near Chennai, plans to revamp its business in India by infusing fresh investment of Rs 250 crore in the next three years, with potential to create 500 new jobs. The company has furnished the information with the Commerce Ministry, seeking permission for its restructuring plan. Since the handset manufacturer has a facility in the Special Economic Zone(SEZ),...
02:20 AM, Jan 21, 2012
Mumbai: Tata Motors on Monday said it will move the Supreme Court against distribution of land which the West Bengal government had taken back from the company through an Act passed in the Assembly. "As per the country's legal procedures, the company will agitate the matter before the Supreme Court," a late night statement by Tata Motors said. "The company believes that as per conventions established in the country when...
11:06 PM, Jun 27, 2011
Dhaka: Fifty Indian investors, including the Tata, Birla and TVS groups, have sought a special economic zone (SEZ) to be set up in Bangladesh for joint ventures. A visiting business delegation of the Confederation of Indian Industry (CII) on Monday proposed that the Bangladesh government establish a SEZ for them to house joint venture (JVs) industries. The reaction of Bangladesh government was positive about the proposal. Commerce Minister Faruk Khan...
01:03 PM, May 10, 2011
New Delhi: The government on Monday proposed to levy Minimum Alternate Tax (MAT) of 18.5 per cent on the book profits of Special Economic Zone developers and units, which was termed as a 'setback' by the players. Both the developers as well as units in the tax free enclaves were earlier exempted from MAT under Section 115 JB of the Income Tax Act. "As a measure to ensure equal sharing...
02:36 PM, Feb 28, 2011
Mumbai: It is the triumph of people power. The Mukesh Ambani-led Raigadh Special Economic Zone project, touted as the country's biggest SEZ has now been scrapped by the Maharashtra government. Protesting farmers in the area will now get their land back. Floated by Ambani in partnership with Anand Jain, the Raigadh Maha-Mumbai SEZ needed over 20,000 acres. But villagers who owned all this land put up massive resistance. And when...
09:17 AM, Feb 20, 2011
New Delhi: The Environment Ministry has given a conditional green signal to South Korean steel giant Poscos project to build a captive port and steel plant in Orissa. The go-ahead by the ministry is based on 50 additional conditions, the prominent conditions being: No construction in high erosion zone, No industrial activity in Coastal Zone Regulation area and total green area within the plant will be 25 per cent. Posco...
07:20 PM, Jan 31, 2011
Environmental ministry has asked for a comprehensive environmental assessment report as Posco tries to go ahead with the project in Orissa. ...
10:05 AM, Oct 20, 2010
Company's plea to extend deadline for acquiring land rejected. ...
10:26 PM, Jun 05, 2009
Mamata Banerjee is one of the 19 ministers to take oath on Friday. ...
02:54 AM, May 23, 2009
