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TMI BlogRelaxations provided on compliances to be met by units / developers / co‐developers of SEZsX X X X Extracts X X X X X X X X Extracts X X X X ..... Relaxations provided on compliances to be met by units / developers / co‐developers of SEZs - News and Press Release Dated:- 30-3-2020 - News - In view of the sudden outbreak of COVID‐19 pandemic and the nation‐wide lock‐down, most government offices are closed and a few involved in emergency services etc., are functioning with skeletal staff. The Department of Commerce h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as therefore decided to provide suitable relaxations on compliances to be met by units / developers / co‐developers of Special Economic Zones(SEZs). Such compliances to which the relaxations will apply, include: Requirement to file Quarterly Progress Report (QPR) attested by Independent Chartered Engineers by Developers/ Co‐developers SOFTEX form to be filed by IT/ITES units ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Filing of Annual Performance Reports (APR) by SEZ units Extension of Letter of Approvals (LoA) which may expire, in the cases of: Developers/co‐developers who are in the process of developing and operationalising the SEZ; units which are likely to complete their 5 year block for NFE assessment; Units which are yet to commence operations Development Commissioners ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of SEZs have been directed to ensure that no hardship is caused to Developers / Co‐Developer / Units and no punitive action is taken in cases where any compliance is not met during this period impacted by the above disruption. Further, as may be possible, all extensions of LoAs and other compliances may be facilitated through electronic mode in a time‐bound manner. In the cases where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is not possible to grant extension through electronic mode or in cases where a physical meeting is required, Development Commissioners have been asked to ensure that the Developer / Co‐developer / Units do not face any hardship due to such expiry of validity during this period of disruption. Ad‐hoc interim extension / deferment of the expiry date may be granted without prejudice til ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l 30.06.2020 or further instructions of the Department on the matter, whichever is earlier. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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