The Hindu : Andhra Pradesh / Hyderabad News : Plans to set up SEZs in private sector

Online edition of India's National Newspaper
Sunday, Feb 19, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

Plans to set up SEZs in private sector

Special Correspondent

HYDERABAD: Major Industries Minister J. Geetha Reddy has said Government was considering a proposal to set up Special Economic Zones (SEZs) in the private sector.

In a reply to a question hour query by Congress members -- D. Sridhar Babu and J. Rathnakar Rao -- tabled in the House on Saturday, Dr. Geetha Reddy said under the proposed Andhra Pradesh Special Economic Zones Bill - 2005, the developer would be eligible for exemption or concession from all taxes, cesses, duties, fees and other levies under any State law.

Full exemption

She said full exemption would be given on stamp duty and registration fee to approved units, co-developers and operators in the zone's processing area on lease/transfer of land. They would also be exempt from levy of stamp duty and registration fee on loan agreements, credit deeds and mortgages executed.

Other sops include full exemption from entry tax on goods purchased for use in the zone, payment of seignorage fee and cess on minerals, payment of conversion fee for change of land. The operators were eligible to claim refund of input tax under the APVAT Act 2005 subject to compliance of prescribed conditions. Dr. Geetha Reddy said the response was positive from the private sector.

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