Ministry of Commerce & Industry
Press Release Date:- 28.02.2019
The Union Cabinet, chaired by the Prime Minister Narendra Modi has approvedpromulgation of an Ordinance to amend the definition of “person”, as defined in sub-section (v) of section 2 of the Special Economic Zones Act, 2005 (28 of2005) to include a trust, to enable the setting up of a unit in a Special Economic Zone by a trust, as also to provide flexibility to the Central Government to include in this definition of a person, any entity that the Central Government may notify from time to time.
Impact:
The present provision of the SEZs Act, 2005 do not permit ‘trusts’ to set up units in SEZs. The amendment will enable a trust to be considered for grant of permission to set up a unit in SEZs. The amendment will also provide flexibility to the Central Government to include in this definition of a person, any entity that the Central Government may notify from time to time. This will facilitate investments in Special Economic Zones.
- One held by CGST Delhi East officials for availing fake input tax credit of Rs 82.23 crore
- 12th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall.
- Finance Minister Smt. Nirmala Sitharaman holds Pre-Budget consultation with Finance Ministers of States/ Union Territories (with Legislature) for Budget 2021-22
- Webinar for taxpayers on Recent changes in process of Registration at GST portal in Marathi and Tamil
- Unexplained money, etc
- Banking
- Budget
- Business & Industry
- busy
- CBIC CIRCULAR
- Central Tax Notification
- Central Tax Rate Notification
- CGST rules 2017
- Companies Court Case
- Companies law
- Companies law notification
- Company
- Custom Act
- Custom Notification
- Custom Press Release
- CUSTOMS
- E-Way Bill
- GST
- GST
- GST Circular
- GST court case law
- GST law
- GST Notifications & Press release
- GST Practitioner
- GST Rates & HSN /SAC Code
- GST Refund
- GST Return
- GST Support Paid Services
- GST updates
- Income tax
- Income Tax Act
- Income Tax Audit
- Income Tax case law
- Income Tax Circular
- Income tax notifications
- Income Tax Press Release
- Income Tax Return
- Income Tax Updates
- Intellectual Property Rights
- Job Post
- MCA Press Release
- Ministry of Corporate Affairs
- Ministry of Finance
- msme
- New GST Return System
- Notification
- Online Course
- Pen Drive Courses sales
- RBI Notification
- RBI Press Release
- Tally erp 9
- Tally new video
- Tally notes
- Tally question paper
- Tax offence
- TCS
- TDS
- TDS Notification
- TDS Rate
- Uncategorized
- Updates for Companies
- Wages Act