Bandi Purushotham Rao (Credit Manager) (61 Points)
19 March 2014Dear All,
Can any one please share me what are the Acts and standards applicable to a company which is Manufacturing and exporting goods and its accounting treatment. ( it is placed in SEZ area )
Thanks and Regards
Purushotham Rao Bandi
rajula gurva reddy
(Manager)
(420 Points)
Replied 19 March 2014
Dear Rao,
When the unit is located in SEZ the following Acts will be applicable.
SEZ Act, 2005 and SEZ Rules, 2006
Income Tax Act
VAT Act (for the DTA Sales)
Custosm Act (for the DTA Sales)
FTP for the exports and Imports.
As long as manufactured Goods are exported, no taxes are applicable except MAT.
For the DTA Sales, duties equivalent to the Customs Duties excluding SAD with VAt are applicable.
With Regards
CAclubindia
