New Delhi:- Good news for SEZ traders who have been suffering from long-term problems after the GST is implemented. The government has given a new option to the traders for updating SEZs. He will now be able to email the government for updation.
Thousands of businessmen working in the 221 SEZ of the country were facing the problem of States Updation from July 2017. Initially, the option was given to the traders on the GSTN portal, that they would be able to update the SEZs by updating the portal. But updation was not due to the problem in the portal. More than 4 thousand units will be benefited under the SEZ by the government’s new move.
Businessmen did not change SEZ status
On GST portal, traders had to face many difficulties during registration. The traders took the option of Special Economic Zone (SEZ), they were not showing in their account. The SEZ option was shown in the account of the traders who did not take the SEZ option.
Due to such technical problem of GST portal, businessmen had to make rounds of government offices. CA Shubhi Gupta told that the business was revolving around the GST office to fix the status of SEZ, but despite this, their status was not changing.
Not able to raise the advantage
Gupta told that the units working in SEZ get status as the exporting unit. The unit of SEZ is relaxed in many tax benefits, incentive, and labor law. Units coming in Sage and units working with them get tax exemption. They do not need a license to import and second-hand machines. He was unable to take advantage of the status updates on the GST portal.
The process of change status
For this, the businessmen will need to e-mail at firstname.lastname@example.org to change the status of their SEZ. With e-mail, the SEZ developer has to email the copy of the letter of authority found on the unit registration.