FinMin rejects demand for removal of MAT, DDT on spl eco zones

The Finance Ministry has rejected demands of the Commerce Ministry to remove minimum alternate tax on special economic zones, Parliament was informed today.
There have been demands from various quarters for discontinuing minimum alternate tax (MAT) and dividend distribution tax (DDT) imposed on special economic zone (SEZ) units and developers respectively, Commerce and Industry Minister Nirmala Sitharama said in a written reply to Lok Sabha.
"Ministry of Commerce and Industry had recommended the restoration of original exemption from MAT and DDT to SEZ developers and units. However, Ministry of Finance has not agreed," she said.
As of now a total of 196 SEZs are functional with maximum number of such zones in the state of Tamil Nadu (36), followed by Maharashtra and Karnataka (25 each) and Telangana (24).

Replying to a separate question on meat exports, she said representations are being received from time to time from some religious/social organisations demanding the imposition of a ban on export of meat and its products.
"The existing export policy is in the interest of the farmers, livestock producers, meat consumers, traders, stake holders of other sector," she said.

During April-September this fiscal, meat exports stood at over Rs 13,945 crore.
On the new foreign trade policy (FTP), the Minister said it is under consultation and finalisation.
FTP deals with export and import related activities of the country.