Accounting for unit & developer in sez
This query is : Resolved
15 June 2012
Dear Sirs,
This is regarding a sector specific SEZ wherein the registered company is both the Developer and the Unit. There are no other units within the SEZ.
The questions are:
A) Is the company required to maintain separate books for the Developer and the Unit,
B) What are the reporting requirements for the Unit & Developer and
C) Whether the Unit & Developer each require a separate Trial Balance.
Thanking you,
Best regards,
Pramod
e-mail: pk_rath@rediffmail.com
This is regarding a sector specific SEZ wherein the registered company is both the Developer and the Unit. There are no other units within the SEZ.
The questions are:
A) Is the company required to maintain separate books for the Developer and the Unit,
B) What are the reporting requirements for the Unit & Developer and
C) Whether the Unit & Developer each require a separate Trial Balance.
Thanking you,
Best regards,
Pramod
e-mail: pk_rath@rediffmail.com
19 June 2012
Are you talking about real case ? or it is imaginary one ?
Because there can not be single unit SEZ as per SEZ Act & Rules.
Also there is no example of SEZ Developer and SEZ unit is same entity ( Single Assessee holding same PAN no. ).
It is practically not advisable.
SEZ Developer and SEZ unit should be separate assessee.
Because there can not be single unit SEZ as per SEZ Act & Rules.
Also there is no example of SEZ Developer and SEZ unit is same entity ( Single Assessee holding same PAN no. ).
It is practically not advisable.
SEZ Developer and SEZ unit should be separate assessee.
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