• Service: Tax, Global Indirect Tax, International Tax
  • Type: Regulatory update
  • Date: 1/7/2014

India - Customs duty exemptions for SEZ, export oriented goods 

January 7: The KPMG member firm in India has prepared reports on the following developments (read the January 2014 reports by clicking on the hyperlinks provided below):
  • Developments in special economic zone (SEZ), export oriented unit (EOU) "schemes" - The Central Board of Excise and Customs issued: (1) guidance to clarify exemptions from additional customs duty on goods cleared from a special economic zone / free trade warehousing zone into a domestic tariff area; and (2) new measures concerning “export oriented” units.

    Read a January 2014 report [PDF 409 KB] prepared by the KPMG member firm in India.

  • CBDT directives on safe harbor rules - The Central Board of Direct Taxes issued a letter containing directives and clarifications regarding the implementation of the “safe harbour rules” (read TaxNewsFlash-Asia Pacific: India - Safe harbor rules are finalized). The directives address timing and actions by Assessing Officers with respect to examinations of corporate income tax returns.

    Read the January 2014 report [PDF 271 KB] prepared by the KPMG member firm in India.

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