what sez & ct3 forms?

[Former Member]

Hi gurus,

what is SEZ & CT-1,2,3 forms and how we configure plaese explain

Thanks &regards

sreenivas

[Former Member · Accepted solution]

Hi

SEZ -

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SEZ Policy - Towards Creation of Zones of Excellence

The Special Economic Zone ("SEZ") Policy, announced by GoI enables the creation of SEZs in the country, with a view to provide an internationally competitive and hassle-free environment for exports. These zones are designated duty-free enclaves, and are deemed foreign territories for the purpose of trade operations, duties and tariffs. The Policy offers several fiscal and regulatory incentives to developers of the SEZs as well as units within these zones. In addition to the incentives offered by the Central SEZ Policy, the Government of Maharashtra ("GoM") has announced a State SEZ Policy which offers several additional incentives to the units within these zones.

FORM CT-1

Certificate for procurement of excisable goods for export without

payment of duty

CT 2 is issued to procure goods under advance authorisation to 100% EOU

FORM CT-3 is used by 100% EOUs to obtain excisable goods without payment of duty.

U can define forms in J1IT Tcode --- Forms --- Define form types

Thx.

[Former Member · Accepted solution]

Hi dwarakesh,

Thanks for quick replay,

But i am not understanding this SEZ and CT forms can u explain again.But the t.code which ur give J1IT.

Transaction J1IT does not exist. and when we r using this SEZ and CT forms how can i configure

please explain step by step and little deeply.

Thanks&regards

sreenivas

[Former Member · Accepted solution]

HI

If u r using ECC 6 version then follow path to define forms in SPRO

Logistics general -

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Tax on Goods Mvt. -

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India -

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Master data -- define Forms.

SEZ

SEZ IS A PARTICULAR AREA INSIDE A STATE WHICH ACTS AS FOREIGN TERRITORY FOR TARIFF AND TRADE OPERATIONS.

SEZ HELPS IN THE DEVELOPMENT OF INFRASTRUCTURE OF THE AREA AROUND SEZ BY PROVIDING EMPLOYMENT TO PEOPLE AND MAKES THE EXPORTS MORE VIABLE.

IT SHOULD BE NOTED THAT IF 100 ACRES ARE ALLOTTED FOR SEZ, THEN ONLY 30-35% OF AREA IS USED FOR SETTING UP PLANTS AND REST OF THE AREA IS USED TO PROVIDE HOUSING FACILITIES, MALLS, MULTIPLEXES ETC. WHICH LEADS TO THE DEVELOPMENT OF THAT REGION.

IT IS EXPECTED THAT THIS WILL TRIGGER A LARGE FLOW OF FOREIGN AND DOMESTIC INVESTMENT IN SEZ AND LEADING TO GENERATION OF ADDITIONAL ECONOMIC ACTIVITY AND CREATION OF EMPLOYMENT OPPORTUNITIES.

WHY SEZ ?

WITH A VIEW TO AUGMENTING INFRASTRUCTURE FACILITIES FOR EXPORT PRODUCTION IT HAS BEEN DECIDED TO PERMIT THE SETTING UP OF SPECIAL ECONOMIC ZONES IN THE PUBLIC, PRIVATE, JOINT SECTOR OR BY THE STATE GOVERNMENTS.

ATTRACT FOREIGN INVESTMENT

EMPLOYMENT GENERATION

FOREIGN EXCHANGE EARNINGS

TECHNOLOGY TRANSFER

RAISE LEVEL OF ECONOMIC ACTIVITY

Thx...

[Lakshmipathi · Accepted solution]

Dear Sreenivas

Check this link on SEZ

[SPECIAL ECONOMIC ZONE|http://www.indiainbusiness.nic.in/FAQ/sez.htm]

thanks

G. Lakshmipathi

[Former Member · Accepted solution]

Hi Sreenivas Reddy,

Government of India has created some Special Economic Zones (SEZ) where the tax structure would be different. Who ever has the company or organisation in that identified zone (area), certain taxes and duties are exempted for a specific period like 10 years. This is to encourage exports. Most of the companies would like to avail these concessions.

EOUs are nothing but Export Oriented Units where the SEZ rules could be applied.

These concessions would apply not only to direct exports but also for the imports of parts for assembling the final product which is for going for export.

In this case you can obtain these excise payment concession by submitting the form CT3 for importing the sub parts which are meant for exports as a final product.

Already Dwarakesh explained above how to configure them in the system.

Hope it clarifies.

Regards

Siva

[Former Member · Accepted solution]

Hi Dwarakesh & Lakshmipathi,

Thanks for quick answer

But how to configure SEZ .

CT-1 val,CT2-qty and What is ct3-?

Thanks

sreenivas

Edited by: sreenivas reddy on Dec 1, 2008 8:54 AM

[Former Member · Accepted solution]

In CT-3 Form process, who is issuing and who is receiving and any example/scenario ?

what is the difference between CT1 and CT-3