Recently we got a letter from Custom Department, referring about ACES. The letter says the administrative control of STPI is coming to ACES (www.aces.gov.in), I still can't claim any legal words into it, as most of the CAs are unfamiliar about it, but it seem to me yet another stamp over the forthcoming closure of STPI.
So, now what?
Moving a STPI unit to SEZ is simply not allowed, a SEZ unit should be a fresh start.
So as a member of STPI, you have been claiming tax benefits but paying the MAT. With the ever rising MAT perhaps, you have accumulated it quite well. So the year 2011-2012 may be well worth to utilize and balance your MAT.
Usually the members of STPI are small and medium enterprises (10crore-50crore turn overs), and unlike me :-), they seem not to reveal much about their plans. Waiting for one year (and balancing your advanced tax), may reveal about some actual plans. While, it is near impossible for SMEs to setup units in SEZ, who knows, they can come with plans for incubation.
And try to make as much profit as possible in 2010-11. Cut some of your expenses for April, onwards. :-)
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