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Shri EVKS Elangovan, Minister of State for Commerce and Industry, sought the total cooperation of the state governments to exempt indirect taxes levied on Export Oriented Units and Special Economic Zones (EOUs &SEZs). He said that the issue of exemption of state levies on EOUs has been under the active consideration of the ministry. The minister was addressing the interaction meeting with the representatives of various EOUs and SEZs in Chennai this morning. The overall exports from the country in the EOU/SEZ sector are set to touch a record US $ 75 billion this year. “EOU/SEZ units are contributing 15 per cent (in dollar terms) in the total exports from the country, and in our policy, they are the engines of growth” he said.
The Minister said that EOU/SEZ units in Tamil Nadu have contributed Rs.5702 crore as exports last year generating an employment of 60,000 people. He said that his ministry is interacting with the Ministry of Finance regarding simplification of procedures for claiming tax exemptions for EOU/SEZ units. Shri Elangovan also hoped that the proposed SEZ legislation will provide a stable environment for the growth of SEZ units.
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