Tax Hotline
August 03, 2001
Indian Government Exempts Units in Quake-hit Gujarat from Export Obligations

In the quake-hit areas of Gujarat, the Indian Central Government has decided to waive the export obligation for the previous fiscal year ending March 31, 2001 undertaken by export-oriented units (EOU), units in special economic zones (SEZ) and export processing zones (EPZ).
The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, said last week that “on account of the devastation rendered by the earthquake that struck the coast of Gujarat on January 26, 2001, it is hereby decided to declare 2000-01 as a blank year for the purpose of monitoring export obligation for EOU / EPZ / SEZ units located in the areas affected by the earthquake in the state of Gujarat.”

The DGFT had deferred monitoring of EOUs and units in the Kandla SEZ till June 30, 2001, as per an earlier notice in February this year.

 
 

Source: August 13, 2001,Business Standard

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Tax Hotline

August 03, 2001

Indian Government Exempts Units in Quake-hit Gujarat from Export Obligations

In the quake-hit areas of Gujarat, the Indian Central Government has decided to waive the export obligation for the previous fiscal year ending March 31, 2001 undertaken by export-oriented units (EOU), units in special economic zones (SEZ) and export processing zones (EPZ).
The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, said last week that “on account of the devastation rendered by the earthquake that struck the coast of Gujarat on January 26, 2001, it is hereby decided to declare 2000-01 as a blank year for the purpose of monitoring export obligation for EOU / EPZ / SEZ units located in the areas affected by the earthquake in the state of Gujarat.”

The DGFT had deferred monitoring of EOUs and units in the Kandla SEZ till June 30, 2001, as per an earlier notice in February this year.

 
 

Source: August 13, 2001,Business Standard

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
conferences and seminars.