PUNE: The state government has extended exemption of stamp duty and registration fees for special economic zones from 10 years at present to 25 years. This means that SEZs started 10 years back will get benefit of the waiver for another 15 years. There are 27 SEZs in the state.
"It is a welcome step. However, I feel that it should have been extended to industries operating in rural areas as well,'' said former town planner Sadhana Naik. The waiver would benefit all manufacturing units operating in these zones and the state is third highest in the number of SEZs, she added.
"Since its takes time to set up such zones, the time-frame of 10 years was too short," Naik said. On the total cost of land, the stamp duty is 5% and the registration fee comes to 1% .
An official from industries department said the aim of the waiver was to promote industrial growth and generate employment in SEZs and other ancillary units.
A note issued by the state cabinet specified that the waiver would be applicable for the first sale deed signed between landowners and SEZ developers or industrial units and that the waiver would be applicable for 15 years from the date of approval of the SEZ.
The Central SEZ Act of 2005 authorises the Union government to grant waiver in Central government taxes for SEZ developers, promoters and business set up in SEZs. Section 50 (sub-clause A) of the same Act allows state governments to offer tax exemptions as well. The official said there was a demand from SEZ developers for the same and the exemption was earlier given in 2007 and now it has been extended by another 15 years
T C Benjamin, former additional chief secretary, urban development department, said many SEZs have stagnated due to lack of investments. "The government needs to declare sops to help bring in more investments to the state,''he added.
Status in state
* The website of the Union ministry of commerce mentions that Maharashtra has 27 SEZs, which are notified under the Central SEZ Act of 2005
* The state with 27 SEZs comes third in number of SEZs after Tamil Nadu, which has the 36 SEZs, and Telegana, 29 SEZs
"It is a welcome step. However, I feel that it should have been extended to industries operating in rural areas as well,'' said former town planner Sadhana Naik. The waiver would benefit all manufacturing units operating in these zones and the state is third highest in the number of SEZs, she added.
"Since its takes time to set up such zones, the time-frame of 10 years was too short," Naik said. On the total cost of land, the stamp duty is 5% and the registration fee comes to 1% .
An official from industries department said the aim of the waiver was to promote industrial growth and generate employment in SEZs and other ancillary units.
A note issued by the state cabinet specified that the waiver would be applicable for the first sale deed signed between landowners and SEZ developers or industrial units and that the waiver would be applicable for 15 years from the date of approval of the SEZ.
The Central SEZ Act of 2005 authorises the Union government to grant waiver in Central government taxes for SEZ developers, promoters and business set up in SEZs. Section 50 (sub-clause A) of the same Act allows state governments to offer tax exemptions as well. The official said there was a demand from SEZ developers for the same and the exemption was earlier given in 2007 and now it has been extended by another 15 years
T C Benjamin, former additional chief secretary, urban development department, said many SEZs have stagnated due to lack of investments. "The government needs to declare sops to help bring in more investments to the state,''he added.
Status in state
* The website of the Union ministry of commerce mentions that Maharashtra has 27 SEZs, which are notified under the Central SEZ Act of 2005
* The state with 27 SEZs comes third in number of SEZs after Tamil Nadu, which has the 36 SEZs, and Telegana, 29 SEZs
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