The Commerce Ministry, on Friday, approved Reliance Industries’ proposal to de-notify over 40 per cent of its special economic zone (SEZ) in Gujarat. The company is planning Rs.45,000-crore worth projects in that area to cater to the domestic market.
The proposal was approved at the meeting of the Board of Approvals (BoA) of SEZs headed by Commerce Secretary S. R. Rao here, subject to the company obtaining a no-objection certificate (NoC) from the State Government for the de-notification.
Refund benefits
“The company will have to refund the tax benefits it may have availed itself of for operating the units in the only-for-export zone,’’ a senior official said.
