Accounting for unit & developer in sez

This query is : Resolved

Pramod (Querist)
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15 June 2012 Dear Sirs,
This is regarding a sector specific SEZ wherein the registered company is both the Developer and the Unit. There are no other units within the SEZ.

The questions are:
A) Is the company required to maintain separate books for the Developer and the Unit,
B) What are the reporting requirements for the Unit & Developer and
C) Whether the Unit & Developer each require a separate Trial Balance.

Thanking you,

Best regards,

Pramod
e-mail: pk_rath@rediffmail.com

Swanand

Swanand (Expert)
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19 June 2012 Are you talking about real case ? or it is imaginary one ?

Because there can not be single unit SEZ as per SEZ Act & Rules.

Also there is no example of SEZ Developer and SEZ unit is same entity ( Single Assessee holding same PAN no. ).

It is practically not advisable.

SEZ Developer and SEZ unit should be separate assessee.