Lucknow: Uttar Pradesh government has announced several tax rebates besides simplifying process for approval of building layouts to promote investment in Special Economic Zones (SEZ’s).
“During a high level meeting of industrial department held last evening it was decided that units being set up in SEZs will get a rebate on entry tax from 30 June,” Udyog Bandhu spokesman said on Thursday.
He said these units will get entry tax wavier like export oriented units.
“Arrangements have been made for speedy approval of layout of buildings to be constructed under SEZ,” he said.
Under the system, Unit Approval Committee headed by Noida and Greater Noida officials will approve layouts on the spot.
Officials were also directed to ensure that VAT deposited by units set up in SEZ was refunded as these units are exempted from VAT with effect from 1 January 2008.
The officials said that Board of Approval of the central government has approved 19 SEZs, of which six will be developed by the state government.
They said, despite recession Moradabad SEZ registered an increase of 27.5% in exports.
“As against Rs11.24 crore export in 2007-08, goods worth Rs14.33 crore were exported in 2008-09,” they said.