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Industrial Training Project Report
RANBAXY
PROJECT REPORT ON SEZ(Special Economic Zone)
RANBAXY LABORATORIES LTD
SUBMITTED BY:NISHA RAJPAL (TRAINEE)
SUBMITTED TO:FINANCE DEPTT MISS DURGA SHARMA (FINACE MANAGER)
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EXECUTIVE SUMMARY
A Special Economic Zone in short SEZ is a geographically bound zones where the economic laws in matters related to export and import are more broadminded and liberal as compared to rest parts of the country. SEZs are projected as duty free area for the purpose of trade, operations, duty and tariffs. SEZ units are self-contained and integrated having their own infrastructure and support services. Within SEZs, a units may be set-up for the manufacture of goods and other activities including processing, assembling, trading, repairing, reconditioning, making of gold/silver, platinum jewellery etc. As per law, SEZ units are deemed to be outside the customs territory of India. Goods and services coming into SEZs from the domestic tariff area or DTA are treated as exports from India and goods and services rendered from the SEZ to the DTA are treated as imports into India.
Terms and Conditions

Only units approved under SEZ scheme would be permitted to be located in SEZ. The SEZ units shall abide by local laws, rules, regulations or laws in regard to area planning, sewerage disposal, pollution control and the like. They shall also comply with industrial and labour laws as may be locally applicable. Such SEZ shall make security arrangements to fulfill all the requirements of the laws, rules and procedures applicable to such SEZ. The SEZ should have a minimum area of 1000 hectares and at least 35 % of the area is to be earmarked for developing industrial area for setting up of processing units. Minimum area of 1000 hectares will not be applicable to product specific and port/airport based SEZs. Wherever the SEZs are landlocked, an Inland Container Depot (ICD) will be an integral part of SEZs. Detailed guidelines on setting up of SEZ in the Private/Joint/State Sector is given in Appendix 14-II.N of Handbook of Procedures Volume I.
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This project has been prepared with a view to study the aforesaid scheme and to know the exact benefits exceptions available to the entrepreneurs setting up of SEZ. In order to implement & popularize the SEZ Scheme Govt. of India has provided a lot of fiscal benefits to SEZ Developers. Keeping in view the Fiscal benefits all major Industry players have either got the Approvals for SEZ or have applied for the same. At present there are more than 550 in principle Approvals in Place for SEZ out of which around 350 have already been notified. Infosys, Dr. Reddy, DLF, Ranbaxy, HCL, Wipro, Tech Mahindra are some of the major players which have already got them notified under the Scheme. In view of the Popularity and fiscal benefits available under the scheme a study on Implementation and various approvals required for setting up of SEZ has been made at Ranbaxy Laboratories ltd (SEZ) Mohali. The details of which are presented in the form of Project Report.
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Distribution of SEZs State wise distribution:-
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SEZs : Sector wise Distribution
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Areas Specification for SEZ Minimum area requirement stipulated for various categorie of SEZs are: For states other than Areas for special category special category states /UTs states/UTs
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Type
Minimum total Processing Minimum total Processing area area area area requirement requirement requirement requirement 1000 Multi-product 35% 200 hectares 35% Hectares One/more services 100 hectares 50% 100 hectares 35% Sector 100 hectares specific/port/airport Electronic 10 hectares hardware & with minimum software or built up area information of one lakh technology enabled sq.metre services 10 hectares with minimum built up area Gems &jewellery of 50 thousand sq.metre 10 Bio-tech/nonhectares(and conventional minimum built energy including up area of 1 solar energy lakh sq.mts equipments/cells for IT) 40 hectares(min. Free trade built up area warehousing zone of 1 lakh sq.metres) 50% 50 hectares 10 hectares with minimum built up area of 1 lakh sq.mt 10 hectares with minimum built up area of 50 thousand sq.metre 10 hectares(and minimum built up area of 1 lakh sq.mts for IT) 40 hectares(min. built up area of 1 lakh sq.metres) 50%
50%
50%
50%
50%
50%
50%
50%
50%
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Incentives and Facilities
Income Tax Holiday (Units In Sez)
Income Tax Holiday (Developer )
Capital Gain
Dividend Distribution Tax Minimum Alternate Tax Customs Duties Service Tax
y Amount y y 100% of the eligible profits or gains y y 50% of the y Next five years eligible profits or gains y 50% of the eligible profits or gains subject to creation or specified reserve y Deduction of 100% of profits derived from developing a SEZ for a Period of 10 consecutive assessment years out of the first 15 years from the year in which the SEZ is notified by the Central Government y Exemption from capital gains or transfer or specified assets in Consequence to shifting of industrial undertaking from urban or other areas to SEZ subject to certain conditions. y Exemption from Dividend Distribution Tax declared or paid after 1st April, 2005 by an enterprise engaged in developing or developing and operating or developing, operating and maintaining a SEZ. y Exemption from the provisions of Minimum Alternate Tax for developer as well as SEZ unit. y Exemption from customs duties for development of SEZ for authorized operation approved by BOA y Exemption from Service Tax under chapter VI of the Finance Act 1994 on taxable services provided to a developer
y Period For first five years Next five years
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or unit to carry on authorized Operation in an SEZ y Exemption from the Securities Transaction Tax leviable under Section 98 of the Finance (No.2) Act 2004 in case the taxable securities transactions are entered into by a non-resident through the International Finance Service. Duty free Import domestic procurement of goods for development, Operation & maintenance of SEZ units. Exemption from any duty or excise, under the Central Excise Act, 1944 or the Central Excise Tariff Act, 1985 or any other law for the time being in force, on goods brought from Domestic Tariff Area to a Special Economic Zone or Unit, to carry on the authorized operations by the Developer or entrepreneur. Exemption from Central Sales Tax/VAT on sale or purchase or goods
Securities Transaction Tax
Import Duty
y y y
Excise Duty
Central Sales Tax/VAT
Other Incentive
OTHER CONCESSIONS Environment Protection Act Information Technology Sezs do not require environment clearance for development of Sezs Public hearing is not exempted and process of Environment impact assessment (EIA) as laid in the notification of the ministry of Environment would have to adhered to.
Companies Act
Enhanced limit of Rs. 2.4 crores p.a. allowed for Managerial
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remuneration. Agreement to opening of regional office of register of Companies is Sezs. Exemption from requirement of domicile in India for 12 months prior to appointment as Director.
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Drugs & Cosmetics Act
Employees Provident Fund As per Ministry of labour, the state government may apply for exemption to the Central Government under section 16(2) of the Employees Provident Fund & Miscellaneous Provision Act 1952 from the applicability of the provision of the said Act for 5 years
Exemption from Port Restriction Under Drugs & Cosmetic Rules
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INTRODUCTION
Organizational Profile History of the company
Ranbaxy Laboratories Limited, India's largest pharmaceutical company, is an

integrated, research based, international pharmaceutical company, producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranked 8th amongst the global generic pharmaceutical companies, Ranbaxy today has a presence in 23 of the top 25 pharmaceutical markets of the world. The Company has a global footprint in 49 countries, world-class manufacturing facilities in 11 countries and serves customers in over 125 countries. Ranbaxy was incorporated in 1961 and went public in 1973. For the year 2008, of the Company The the by markets Europe recorded has that Global Sales a balanced 54% market $ 330 of and Mn. US $ of 39% 1,682 Mn, reflecting a from In US has of Asia 2008, $ 449 been growth and North Mn, going 4%. Company Companys mix revenues sales in emerging
developed America, followed
contribute largest US
respectively.
contributed
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Business
strong with India clocking sales of around US $ 300 Mn with market leadership in several business segments, backed by strong brand-building skills. Ranbaxy labs Pvt. Ltd. merged with LEPTIT RANBAXY LABORATORIES PVT. LTD. In 1962. Indian nationals and the word Leptit was removed from the name of the company, terminated the collaboration agreement with M/S Leptit in 1966. After which the entire share capital of the company was acquired. Therefore, the come is known as RANBAXY LABORATORIES LIMITED. In 1973, the company issued shares to the genially public and become a full fledged public limited company.
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In June 2008, Ranbaxy entered into an alliance with one of the largest Japanese innovator companies, Daiichi Sankyo Company Ltd., to create an innovator and generic pharmaceutical powerhouse. The combined entity now ranks among the top 15 pharmaceutical companies, globally. The transformational deal will place Ranbaxy in a higher growth trajectory and it will emerge stronger in terms of its global reach and in its capabilities in drug development and manufacturing. COMPANY PROFILE
Ranbaxy and world one specialist agreement
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Vision & Aspirations

To become a research-based international pharmaceutical company VISION-2012 Achieve significant business in prosperity products
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By 2012 With a strong presence in Developed Markets
ASPIRATIONS-2012 Aspire to be amongst the top 5 global generic players And Aims at achieving global sales of US $5 Billion Company BY 2012
Strategy
For the year 2009, Ranbaxy has a clear strategy to harness its growth potential in emerging markets, rebuild the US business through a series of actions on products and 1 will facilities; launches be to all to actualize strengthen resolve locations. realize will there significant the our this, at to revenue / geographic Ranbaxy the contend upsides and and front with, through pipeline therapeutic continue back Daiichi and First-to-File and to look basket. will of the and for Our identify the industry DayM&A focus cGMP key is product therapeutic issues and
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People
The companys business philosophy based on delivering value to its stakeholders constantly inspires its people to innovate, achieve excellence and set new global benchmarks. Driven by the passion of its over 12,000 strong multicultural workforce comprising 50 nationalities, Ranbaxy continues to aggressively pursue its mission to become a research- based international pharmaceuticals company and attain a true global leadership position.
Company Growth

Consolidated net sales at Rs. 18,884 Mn, a growth of 14% (USD 431 Mn). Emerging markets portfolio achieves sales of Rs. 10,644 Mn, with a strong growth of 20%; accounts for 56% of sales (USD 243 Mn).
Developed markets sales grew by 9% to Rs. 7,089 Mn (USD 162 Mn); accounts for 38% of sales. Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) for the quarter are Rs. 1,440 Mn (8%). EBITDA for the year to date is Rs. 7,253 Mn reflecting a margin to sales of 14%. Gross margin on year to date basis maintained at 51% despite adverse economic conditions this year. Over the current year there has been a consistent improvement in Working Capital management with a result that the Companys Gross Working Capital has reduced by 5%.

Competitors
The pharmaceutical industry is characterized by rapid advances in scientific
knowledge and ability to discover new drugs. The industry is therefore led by large manufacturers and marketers of drugs investing heavily in research &development, having clinical testing, marketing and distributing capabilities. Some of the main competitors of Ranbaxy are:
Sun Pharmaceuticals Industries - It is No. 1 in India in specialty therapy areas like psychiatry, neurology, cardiology, gastroenterology, diabetology and respiratory.[.It has brands in 30 markets worldwide and also has a
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generic presence in the U.S. with Caraco Pharm Labs, Sun Pharmaceutical Industries Inc
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Cipla - Cipla is a leader in the domestic retail pharmaceutical market. It also exports raw materials, intermediates, prescription drugs, over-the-counter products, and veterinary products to some 180 countries around the world.
Glaxo smith Kline- It is one of the oldest pharma companies in India and with a turnover of Rs. 1500 crore is one of the market leaders(market share) in India with a share of 6.2 per cent Its main portfolios consists of antiinvectives, dermatologicals and pain management drugs
Dr.Reddys Laboratories It is a global pharmaceutical company with it's headquarters in India and a presence in more than 100 countries. In India it the biggest drug maker by sales. Other competitors areActavis,Sandoz International GmbH; Teva pharmaceuticals,RPG Enterprises, , East India Pharmaceutical Works Pharmaceuticals Ltd, Khandelwal Laboratories Ltd, Dabur India Ltd.
Ltd,
Concept
MILESTONES FOR RANBAXY y y The company was incorporated in the year 1961 In 1973, the company went public and a multi-purpose plant was installed in Mohali for the production of APIs
y
In 1977, Ranbaxy entered into its first joint venture in Lagos (Nigeria) A modern plant for Dosage Form was established in Dewas (M.P.) in 1983 The research foundation of Ranbaxy was established in 1985 In 1992, Company entered into an agreement with Eli Lilly & Co of USA for setting up a Joint Venture in India to market select Lilly products The new Research Centre at Gurgaon, (near Delhi), became fully Operational in 1994 In 1997, Ranbaxy Laboratories Limited crossed a sales turnover of Rs 10,000 million, with its exports reaching an all time high of Rs 5,000 million
y y
y
In 1998, Ranbaxy entered USA, worlds largest pharmaceuticals market, with products under its own name
In 2000, Ranbaxy acquired Bayers Generics business (trading under the name of Basics) in Germany
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y
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Ranbaxy received The Economic Times Award for Corporate Excellence for The Company of the Year, 2002-2003 in 2003
Ranbaxy opened its third state of the art R&D facility in Gurgaon campus to focus on NCE discovery research. H.E. Dr. A.P.J. Abdul Kalam, the President of India, inaugurated the facility in Aug 2005
y y
Ranbaxy launched operations in Canada Ranbaxy has announced its acquisition of Terapia in Romania in 2006
OBJECTIVES OF THE COMPANY
To be a leader in the pharmaceutical industry. To be a profitable company with a steady growth in earnings. To set an example as a socially economical company. To diversify in health care in related areas. To strive for excellence and continues improvement in all spheres. To improve quality of life of people by providing better services and quality products. To provide a harmonious environment and the work place this helps in developing the potential of the employees.
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VARIOUS DEPARTMENTS

Business solution group Centralized Global manufacturing Engineering department FINANCE IT Global manufacturing ERP Quality Assurance Quality Control Global Supply Chain Sales Global HR Human Resource Technology Transfer Security Purchase Sales Infotech Process Engineering Erection and Fabrication, etc.
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Manufacturing Plants in India RANBAXY Laboratories Ltd.
Corporate
Manufacturing
Research & Development
Marketing
Active Pharma Ingredients (API)
Dosage Form (DF)

Dewas (2000)
Mohali (1000)
Dewas (1020)
Paonta Sahib (2010)
Malanpur Paonta Sahib (1030)
Goa (2020)
Taonsa (1010)
Okhla (EVT) (2030)
Loan Licensing
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ORGANIZATION CHART Finance department
(Director)-API
(Director) Finance
(General Manager) Finance
(Sr. Manager) Finance

(Manager Finance)
Sr. Accounts Executive
Accounts Executive
Sr. Accounts Officer
Accounts Officer
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Industrial Training Project Report Objectives of the Study

1. To study the Special Economic Zone (SEZ) scheme.
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2. To study the criteria for establishing or setting up of SEZ & to know how they get the Board of approval i.e. BOA. 3. To know the exact benefits and exemptions available to the entrepreneurs setting up of SEZ. 4. To know the fiscal benefits available for the SEZ unit/ developer. 5. To Study the benefits of Single Window Clearance.
RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research problem. The research methodology includes the various methods and techniques for conducting a research. Marketing research is the systematic design, collection analysis and reporting of data and finding relevant solution to a specific marketing situation or problem.D. Slesinger and M. Stephenson in the encyclopedia of social sciences define research as the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aid in construction of theory and practice of an art. Research is thus an original contribution to the existing stock of knowledge making for its advancement. The purpose of research is to discover the answers to the questions through the application of scientific procedures.
Research design: The research design is an arrangement of condition for collection and analysis
of data in a manner that aims to combine relevance to the research purpose with economy in procedure. It constitutes the blue print of collection, measurement and analysis of data. The research design for this project is Exploratory in nature. Exploratory research, also known as statistical research, describes data and characteristics about the population and phenomena being studied.
Universe of study: Universe of study includes all the people who works in cooperate world. Laboratories Ltd.
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Data collection:
(A) Primary data: Primary data are those data which are collected afresh and for the first time. Interviews with the concerned personnel of the organization. (B) Secondary data: Secondary data are those data which already been collected by someone else and which already had been passed through the statistical process. The secondary data are collected through online journals, various websites & books.
Purpose & Scope of the Study
Purpose
The purpose of this process is to establish a process to make the things done step by step for pre & post approval.
Scope
The scope covers all activities to be carried out for the getting Board of Approval, Notification & Post Notification activities.
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Approval of SEZ (Pre & Post Notification Activities)
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PROCESS FLOW & ACTIVITIES FOR BOA / NOTIFICATION
Process Flow for Board of Approval & Notifications
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Industrial Training Project Report Approval Process For Special Economic Zone (SEZ):STEP 1: Application to State Government or Board of Approval (BOA)
Application to be made on the specified format Form A specifying: Area); Details of proposed activities in Processing/ Non Processing Area; Details of applicant; Location details of proposed SEZ; Proposed financial/ investment, share holding details;
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Details of identified area (viz. total area of SEZ , Processing Area, Non Processing
Project report indicating economic and commercial viability of the proposal; Details of employment likely to be generated during the first 5 years; Undertaking to abide by the SEZ Act, 2005.
STEP 2: State Government forwards proposal to BOA with recommendations

State Government to forward proposal received from applicant to BOA along with recommendation within 45 days of receipt of such proposal. Where proposal is directly submitted to BOA, applicant to obtain concurrence of State Government within 6 months of approval by BOA. State Government to ensure compliance with the following requirements before recommending any proposal to BOA: Minimum area requirements Minimum equity holding (26%) by Developer / Co-Developer in SPV, if applicable. Various state & local benefits / exemptions are made available in the State to the
proposed SEZ
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STEP 3: BOA approves proposal subject to such terms and conditions as it may specify
BOA to approve, modify or reject the proposal subject to minimum area requirements laid down for each class of SEZ.
STEP 4: MoC grants LOA to Developer/ Co-Developer

LOA in a prescribed format (Form B) issued by MoC within 30 days of communication of approval from BOA; Developer required to implement the proposal within 3 years of issue of LOA (subject to extension on case to case basis); LOA to specify the following: Location/ area of SEZ Key terms and conditions for Developer Execute Bond-cum-LUT Submit project implementation progress report every 6 months
Suspension of LOA BOA has powers to suspend the LOA and appoint an Administrator as per the provisions specified in the Act; LOA can be issued for a joint Developer in case one Developer does not have minimum requisite area in its possession; LOA shall also be issued by the MoC to a Co-Developer who intends to provide infrastructure facilities or undertake authorized operation and has entered into an agreement to that effect with the Developer.
STEP 5: Action steps for Developer - Submit details of identified area to MoC
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Upon the grant of LOA from the MoC, Developer submits exact particulars of identified area viz., details of area along with a map indicating the SEZ duly certified by the District Revenue Authority [Section 4(1)] Developer submits proof of legal right and possession of identified area [Rule 7] If owned land, then notarized copy of the sale deed / ownership document; If leased land, then notarized copy of the lease deed; In case of lease hold right, the lease period should be at least 20 years
Obtain certificate from the State Government to the effect that identified area is free from all encumbrances [Rule 7] Issuing authority/ encumbrances not specified in the Act/ Rules Certificate may be issued by District / Sub Divisional Revenue Authority (viz., Encumbrances may refer to state levies with respect to the land (viz., local land Collector, Deputy Collector, SDM, Patwari or Tehsildar) revenue, development tax, municipal levy etc.)
STEP 6: Action steps for Developer - Submit details of proposed operations [Rule 9]
Submit details of proposed operations to BOA: At the time of submitting proposal for setting up of SEZ or; Anytime thereafter, but before claiming exemptions / concessions;
BOA approves authorized operations of Developer after the notification of SEZ; Developer may enter into an agreement with another entity to undertake authorized operations; Such entity on the basis of the agreement may apply to the BOA for a Co-Developer status.
STEP 7: Action steps for Co-Developer

Enters into an agreement with Developer to provide infrastructure facilities or undertake authorized operations in SEZ; Approaches BOA to seek approval for status as a Co-Developer;
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Follows procedure of approval as applicable to Developer to obtain LOA from MoC, execute Bond-cum-LUT, get authorized operations approved, etc; However, State Government recommendations not required. Developer can indicate inclusion of Co-Developer for undertaking certain authorized operations at the proposal stage. Although SEZ Act, 2005 and Rules do not specifically permit or prohibit such a practice, such inclusion at the time of submitting the proposal may expedite the process of obtaining requisite approval/ permission for co-Developer at a later stage
STEP 8: Notification of SEZ by MoC

MoC may grant LOA after satisfying itself that: the identified area meets the criteria for establishment of the SEZ as per section 3(8) of the Act (i.e. minimum area requirement) Developer has accepted the conditions of LOA MoC is guided by the following while notifying the identified area [Section 5(1)] Generation of additional economic activity; Promotion of exports of goods and services; Promotion of investment from domestic and foreign sources; Creation of employment opportunities; Development of infrastructure facilities, and; Maintenance of sovereignty and integrity of India, the security of the State and friendly relations with foreign States; Notification to be issued by the MoC in the Gazette declaring the identified area as an SEZ, after concurrence from MoC [Section 4(1)/ Rule 8]; Notify any additional area which is to be included as a part of an already notified SEZ
STEP 9: Appointment of Specified Officer & Authorized Officer
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After SEZ is notified in the official Gazette, letter is to be filed by the Developer to the Jurisdictional Commissioner of Customs & Excise along with the copy of Notification issued by MoC, requesting to appoint the Specified Officer & Authorized Officer The Specified officer may designate any area or areas in the SEZ as an area for loading and unloading of import & Export cargo.
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APPROV ALS POST NOTIFICATION:Activities to be carried out Post Notification

Demarcation of Processing / Non-processing Area Authorized Operation Submit to the Board the details of Operation proposed to be undertaken in the Special Economic Zone. Execution of Bond-cum-Legal Undertaking. Approval of List of Material from Development Commissioner Approval of List of Services for Service Tax Exemption to be carried out Authorised Operation for the Development, Operation & Maintenance of SEZ. Obtaining Form I for the exemption of Central Sales Tax (CST) for the Inter State procurement. Identity Card will be issued for the entry of the persons to the Processing Area of the SEZ. Submission of Quarterly & Half Yearly Return to Development Commissioner for the details of procurement, consumption & utilization of goods.
Processing / Non-processing Area Processing Area:

Zone. An area in SEZ demarcated by DC for setting up units for activities of Warehousing manufacturing of goods or rendering of services and includes Free Trade and
Boundary requirement
Fully secured by a boundary wall or mesh wire fencing; The fence should be at least 2.4 meters above plinth level; Top 60 centimeters of the fence should be barbed wire fencing with mild steel Specified entry and exit points; Restricted entry and exit into processing area. angle;
(DC to ensure the compliance of the above)
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Non Processing Area:

Area in SEZ other than processing area and Free Trade/ Warehousing area
Boundary requirement
Not specified
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Processing Area II
Entry Non Processing Area Exit
Whether permitted or not?*
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Controlled entry/ exit
Processing Area I
(25% - Multi product SEZ 50% - Sector Specific SEZ 1 Lakh sq mts IT/ Entry ITES/Electronics Exit hardware and software)
Fencing Dimensions : (Processing Area) Height: 2.4 Meters (incl. 60 cms barbed wire topping) Construction: Wall / Wire Mesh
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Industrial Training Project Report Activities to be carried out Post Notification

Authorised Operation (As per Rule 9 of SEZ Rules2006): -
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The Developer shall submit to the Board the details of operations proposed to be
undertaken in the Special Economic Zone for obtaining authorization under sub-section (2) of section 4 at the time of seeking approval for setting up of Special Economic Zone or thereafter: Provided that exemptions, drawbacks and concessions shall be available for the authorized operations as per the procedure specified in rule 12 after the Special Economic Zone had been notified under rule 8: Provided further that the Developer of an existing Special Economic Zone shall to the Board the details of operations proposed to be undertaken in the the purpose of availing exemptions, drawbacks and concessions. submit Special Economic Zone for
Activities to be carried out Post Notification

Bond-cum-Legal Undertaking (As per Rule 12(5) of SEZ Rules2006): The Developer shall execute a Bond-cum-Legal Undertaking in Form D, jointly proper accountal with and the Development Commissioner and Specified Officer, with regard to utilization of goods for the authorized operations within a may be extended by the Specified Officer. Approval of List of Approval (As per Rule 12(2) of SEZ Rules2006): The Developer shall make an application, after obtaining approval for the with authorized operation under rule 9, to the Development Commissioner along the list of goods and services, including machinery, equipments and construction materials required for the authorized operations, duly certified by a Chartered Engineer for approval by the Approval Committee.
period of one year or such period, as
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Industrial Training Project Report Activities to be carried out Post Notification

Approval of List of Services for Authorised Operations (As per Rule 31 of SEZ Rules2006): -
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The exemption from payment of service tax on taxable services under section 65 of the
Finance Act, 1994 (32 of 1994) rendered to a Developer or a Unit (including a Unit under construction) by any service provider shall be available for the authorized operations in a Special Economic Zone.

Obtaining Form I (As per Rule 32 of SEZ Rules2006): The exemption from levy of taxes on sale or purchase of goods, other than Developer or the Unit: newspapers, under the Central Sales Tax Act, 1956 (74 of 1956) shall be available on goods meant for undertaking authorized operations by the
Provided that the dealer selling goods in the course of inter state trade or commerce to a registered dealer under the Central Sale Tax Act, 1956 shall furnish a declaration in Form I prescribed under the Central Sales Tax (Registration and Turnover) Rules, 1957.

Issuance of Identity Card (As per Rule 70(1)(2)(3) of SEZ Rules2006): The entry of persons to the processing area of the Special Economic Zone shall be regulated by the Development Commissioner through issue of identity cards. The identity card shall be valid upto a period of five years and shall be issued, in the ceases to be in employment of the Unit or
format given in Form K, to the entrepreneurs and regular employees of the Units: Provided that when any employee who has been issued an identity card from such date; Developer, the said identity card shall be surrendered forthwith and shall be deemed to be invalid
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-
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Temporary identity card may be issued by the Development Commissioner to the maintained at the
casual visitors and contractors and a proper record of such entries shall be Special Economic Zone Gate; .

Quarterly / Half Yearly Returns (As per Rule 12(6) & (7) of SEZ Rules2006): The Developer shall maintain a proper account of the import or procurement, consumption and utilization of goods and submit quarterly and half-yearly returns to the Development Commissioner in Form E for placing the same before the Approval Committee for consideration. The Developer shall submit a half-yearly certificate for the period ending 31st March certificate for the purpose of sub-rule and 30th September of every financial year regarding utilization of goods from an independent Chartered Engineer, other than the one who has given a (2), to Development Commissioner and Specified Officer and every certificate under this sub-rule shall be filed within thirty days of the period specified, as the case may be.
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PROCEDURES OF DAILY ACTIVITIES POST APPROVALS:Procedure for import of goods without payment of customs duty :
Developer
Authorized officer (in the SEZ) BoE in quintuplicate 2 1 DC/AC of Port at the port of
Assessed/ Reg. BoE Assessed/ Reg. BoE 4 Verification 5 6 Endorsement Fifth copy of BoE 7 Transfer of Goods 3
8 Goods (out of charge)
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Procurement of goods from DTA General Provisions:

Developer may procure goods from DTA without payment of duty for the authorized operation subject to following conditions Developer shall make an application to DC along with the list of goods and services, including machinery, equipments and construction materials required for the authorized certified by a Chartered Engineer for approval by the Approval operations, duly
Committee; [Rule 12(2)]; The goods procured from the DTA by the Developer for authorized operations shall be kept in a clearly demarcated area for inspection by the authorized officer before such goods are brought into use. [Rule 12(4)]; Developer shall submit quarterly and half yearly report on import and procurement of goods from the DTA, utilization of the same and the stock in hand, in Form E to DC and the DC shall place the same before the Approval Committee [Rule Specified Officer and 12(6)]; Developer shall submit a half-yearly certificate for the period ending March, 31st and September Chartered 30th of every financial year regarding utilization of goods from an independent Engineer, other than the one who has given a certificate for list of goods above), to DC and Specified Officer and such certificate shall be specified [Rule 12(7)].
required (mentioned
filed within thirty days of the period
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Industrial Training Project Report Procurement of goods from DTA Alternatives available to Developer
Developer has the following options for procurement of goods from DTA:
RANBAXY
Developer may obtain goods required for authorized operations from DTA, without payment of excise duty/ CST; or Developer may obtain goods required for authorized operations from DTA, after availing Export Entitlements; Developer may obtain goods from DTA without availing exemptions, drawbacks and concessions on the basis of invoice / transport documents issued by DTA unit. In such a case, DTA supplier would claim drawback/ DEPB benefit on issue of suitable disclaimer from the Developer.
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Procedure for procurement of goods from local vendor:

Authorized Officer Officer at DTA DTA Unit
1 Goods, BOE & Form ARE - 1 2 Assessed BOE and/ & ARE 1 3 Verification 4 5 Endorsement Goods 6 Assessed BOE &/or ARE-1
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Procurement of Goods:
Types of Goods From Where
Developer can import/ procure all types of goods* only for undertaking authorized operations including: Capital goods (new or second hand); Raw materials; Semi-finished goods; Components, consumables and spares of capital goods.
Developer can import / procure goods without payment of Duty & taxes from: Other countries; DTA; Units in same or other SEZ; Warehouses; EOUs, STP Units, EHTP Units or BTP Units.
Import & Local Procurement of goods & services

In case of any doubt as to whether any goods or services are required by Developer for authorized operations or not, it shall be decided by DC [Rule 27(2)]; The import of duty free material for setting-up educational institutions, hospitals, hotels, residential and/or business complex, leisure and entertainment facilities or any other facilities in the non-processing area of the SEZ shall be as approved by the Board, however no exemption is stipulated for operation and maintenance of such facilities [Rule 27(3)]; Developer may source capital goods, without payment of duty from a domestic or foreign leasing company under a valid lease agreement. However, in such case Developer and leasing company shall jointly file documents for import or domestic procurement [Rule 27(4)]; Where goods imported or locally procured are found to be defective or unfit for use, they may be sent outside SEZ without payment of duty for repairs & maintenance
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Industrial Training Project Report Home consumption
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Any goods for the personal use of, or consumption by officials, workmen, staff, owners or any other person in relation to Developer, shall not be eligible for exemptions, drawbacks and concessions or any other benefit in accordance with the provisions of sections 7 or 26. [proviso to Rule 27(3)]
Mode of Procurement of Goods

Mode of importation / Local procurement (Rule 28) Ports or airports; Land Customs stations; Inland container depots; Foreign post offices; Authorized couriers; Personal baggage of person authorized by SEZ Developer/ unit; Satellite communication links/ Internet/ Tele communication links (for import of ITES
including software).
Procedure of Re-warehousing the Goods at SEZ

On Arrival of the Goods at Security Gate, Security will send the documents to Stores for verification of the quantity, description of the goods etc. Stores will confirm the accuracy of the documents to Security. Custom Gate Entry will be done by Customs Official / DLF Security. Weightment of the material will be done by Stores. Intimation of the material arrived & documents will be handed over to Indirect Tax Team for necessary Examination / Re-warehousing the goods. Indirect Tax Team will arrange the Examination the Goods with Authorised Officer & will Rewarehouse the goods. Indirect Tax Team will get endorsement over the ARE-1 from Authorised Officer. Indirect Tax Team will handover the ARE-1 to the Supplier within 45 days.
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After getting the Re-warehousing Certificate from SEZ, supplier will submit proof of Export & will file Duty Drawback / DEPB Claim.
Other Major Activities by the SEZ Developer (Detailed SOP attached)

Approval of List of Material from Development Commissioner Sub-contracting Temporary Removal of the Goods for Testing, Calibration purposes on Returnable Basis. Scrap Sale
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Findings of the Study

Findings :
1. Concepts of SEZ Scheme: SEZ scheme has been implemented by the Govt. with following concepts: 1. To promote Exports 2. To Generate Employment 3. To Earn Foreign Exchange 4. To Develop Infrastructure 5. To Promote Import of Latest Technology
2. Criteria for Setting up of SEZ & Approval Mechanism. There are different criterias set by the Govt. for different type of SEZs (Details provided in the Project) & Approvals are given on the basis of Applications submitted by the SEZ Developers which are thoroughly studied by the Govt. before according Approval. Approvals are of two types InPrinciple & Formal In-principle Approval is given to the developers who propose to set up the SEZ but dont have adequate land available with them. Formal Approval is granted in cases where developers hold proper Land. (Approvals are given on the basis of recommendation received from respective State Govt. in case the recommendation of the State Govt. is not attached to the Project Report, the developers are required to take the concurrence of the State Govt. and present the same before the Ministry within Six months from the date of Approval) Govt. is very liberal on the SEZ Policy and has so far granted more than 550 in-principle approvals out of which more than 350 have been notified.
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3. Benefits & Exemptions Available to SEZ Developers / Units on Procurement of Goods/Services 1. Exemption from Payment of Customs Duties on Imports made for Authorized Operations. 2. Exemption from Payment of Excise Duties on goods procured from Domestic Market. 3. Exemption from payment of Sales Tax. 4. Exemption from Payment of Service Tax.
4. Fiscal Benefits available to SEZ Developer / Unit under Income Tax: SEZ Developer: 100 % Income Tax Exemption for a period of 10 Years in a block of 15 years, starting from the date of Notification.
SEZ Unit: 1. 100% Income Tax Exemption for a Period of 5 years from the date of commercial production. 2. 50 % Income Tax Exemption for a period of next 5 years. 3. 50% Income Tax Exemption for next 5 years of the ploughed back profits reinvested into the business.
5. Single Window Clearance: Single window clearance means the Single point of Contact Centre for resolving all the issues related to Approvals / Operations of SEZ. All Approvals are looked after by the Representatives of Ministry of Commerce Posted in SEZ. All of Operational issued are looked after by the Representatives of Ministry of Finance Posted in SEZ.
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Recommendations and Conclusions

The SEZ Scheme was deeply studied under the Guidance of Company Representatives outcome of which are as follows: 1. SEZ is a good scheme for entrepreneurs who are basically Exporters. 2. The Benefit of Tax Exemptions helps Exporters to keep their operating costs low and cash flow increased. 3. Single Window clearance helps reduce approval and clearance time of the routine matter and consignments. 4. Income Tax Benefits allow more profit building for the organization, which results in goods outflow of Capital thereby resulting in more investment which creates more facilities and employment. 5. With the Increased volume of Trade Foreign Exchange Reserves of the Govt. also increased. 6. The More Incentive and benefits also opens gate for new FDI in the Country resulting in more development in Financing & Technological upgradtion. 7. The development of SEZs throughout the Country also results in Development of areas by bringing in Investment and Employment, which in turn upgrades the standard of life of that area.
Recommendations:
The Big Export Houses currently working under other Export Promotion Schemes like EOU/STPI should look to move forward to this Scheme (EOU/STPI Scheme is due to be over in Year 2010 and may receive extension for a period of One Year Only)
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Keeping in view the Income Tax & other Benefits EOU/STPI units shall plan to shift their operations in SEZ. In SEZ the benefits are by way of Exemption and not by refund. This property of the Scheme helps Exporters in reducing their Operational Costs and Time. (Generally claiming of refund from Revenue Authorities is considered as a time consuming and cumbersome process and also consumes lot of working Hours also.) SEZ has also been granted the status of Public utility Place and Strikes and other demonstrations are invalid, thereby creating more freedom for work & less hassle. Since the representatives of Both Finance and Commerce Ministry are placed in SEZ any permission or Approvals are accorded in no time thereby creating smooth flow of Operations. While SEZ Scheme is beneficial for entrepreneurs with Maximum Volume of Export, its not that beneficial for enterprises effecting their Maximum Turnover for Domestic Market.(Sale of Goods by SEZ in Domestic Market is treated as Imports for domestic Purchaser and Duties as applicable in case of Imports are livable, thereby adding to the cost of Product) It has been noted that Most of the Approvals granted for SEZs are in the Places which are already Developed (About 80% of the Approvals are in Metro Cities) this defeats the very purpose of setting up SEZs as the cities where there SEZs are proposed are already developed. Govt. consider this point wisely while according the Approvals for SEZ. There are still some lacunas in the Existing SEZ Rules which creates lot of Confusion in day to day activities, however these are being regularly addressed to Govt. which are clarified by Govt. from time to time by issue of Instructions (Instructions are available on website of SEZ. Since this is an important Scheme of the Govt. it is recommended that proper policy frame may be developed to remove all lacunas and amendment in the Rules may be brought to smooth line the Operations.
Conclusions:
A SEZ unit which has been set up for carrying on manufacturing, trading or service activity has both advantages as well as disadvantages. SEZ advantages are quite far more as compared to its disadvantages which are almost negligible.
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Advantages:
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1. 15 year corporate tax holiday on export profit 100% for initial 5 years, 50% for the next 5 years and up to 50% for the balance 5 years equivalent to profits ploughed back for investment. 2. Allowed to carry forward losses. 3. No licence required for import made under SEZ units. 4. Duty free import or domestic procurement of goods for setting up of the SEZ units. 5. Goods imported/procured locally are duty free and could be utilized over the approval period of 5 years. 6. Exemption from customs duty on import of capital goods, raw materials, consumables, spares, etc. 7. Exemption from Central Excise duty on the procurement of capital goods, raw materials, and consumable spares, etc. from the domestic market. 8. Exemption from payment of Central Sales Tax on the sale or purchase of goods, provided that, the goods are meant for undertaking authorized operations. 9. Exemption from payment of Service Tax. 10. The sale of goods or merchandise that is manufactured outside the SEZ (i.e, in DTA) and which is purchased by the Unit (situated in the SEZ) is eligible for deduction and such sale would be deemed to be exports. 11. The SEZ unit is permitted to realize and repatriate to India the full export value of goods or software within a period of twelve months from the date of export. 12. Write-off of unrealized export bills is permitted up to an annual limit of 5% of their average annual realization. 13. No routine examination by Customs officials of export and import cargo. 14. Setting up Off-shore Banking Units (OBU) allowed in SEZs. 15. OBU's allowed 100% income tax exemption on profit earned for three years and 50 % for next two years. 16. Exemption from requirement of domicile in India for 12 months prior to appointment as Director.
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17. Since SEZ units are considered as public utility services, no strikes would be allowed in such companies without giving the employer 6 weeks prior notice in addition to the other conditions mentioned in the Industrial Disputes Act, 1947. 18. The Government has exempted SEZ Units from the payment of stamp duty and registration fees on the lease/license of plots. 19. External Commercial Borrowings up to $ 500 million a year allowed without any maturity restrictions. 20. Enhanced limit of Rs. 2.40 crores per annum allowed for managerial remuneration. Disadvantages: 1. Revenue losses because of the various tax exemptions and incentives. 2. Many traders are interested in SEZ, so that they can acquire at cheap rates and create a land bank for themselves. 3. The number of units applying for setting up EOU's is not commensurate to the number of applications for setting up SEZ's leading to a belief that this project may not match up to expectations.
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Bibliography
http://www.coolavenues.com/forums http://www.sezindia.nic.in/ http://www.sezindia.nic.in/HTMLS/Instructions.htm http://www.sezindia.nic.in/HTMLS/Statewise%20Distribution%20%20SEZ%2019.6.09.pdf http://www.sezindia.nic.in/HTMLS/Sector-wisedistribution_SEZs19.6.09.pdf http://www.processregister.com/Mohali_Bulk_Drugs_Pharmaceutical_S_E_Z/Pro ject/ http://www.projectsmonitor.com/detailnews.asp?newsid=9926 http://www.financialexpress.com/news/advent-of-it-sez-may-change-face-ofmohali/ http://www.business-standard.com/india/news/ranbaxy-may-setunit-at-mohalisez/241993/ http://www.takeourword.com/TOW199/page4.html http://mksez.nic.in/forms.htm
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Annexure
62 Form - A APPLICATION FOR SETTING UP OF SPECIAL ECONOMIC ZONE (See rule 3) I. Name and address of the Undertaking in full (Block Letters) Name of the Applicant _________________________________ Full Address _________________________________ (Regd. Office in case of limited _________________________________ companies & Head Office for _________________________________ others _________________________________ Pin Code _________________________________ Tel. No. _________________________________ F ax No. _________________________________ Permanent E-Mail Address _________________________________ Name and address of each _________________________________ of the Directors/Partners/ Promoters, as the case may be II. Nature of the applicant Firm or Company: (a) Public Limited Company (b) Private Limited Company (c) Proprietorship (d) Partnership (e) Others (please specify) Note:-Copy of certificate of incorporation alongwith Article of Association and Memorandum in case of companies and partnership deed in case of partnership firms may please be attached. III. (i) Location of the proposed Special Economic Zone: Whether the proposal is for (a) Special Economic Zone for Multi Product. (b) Special Economic Zone for Specific Sector. (c) Free Trade and Warehousing Zone. (Tick [ ]as applicable) IV. (a) Distance from the nearest Sea Port or Airport or Rail or Road head to the proposed Special Economic Zone (b) Indicate the area of the proposed Special Economic Zone (in hectares) (c) Whether the applicant is owner of the land and the land is in his/its possession. (d) In the case of lease hold land, name of the lessor and the lease conditions. (e) If the land is not in ownership or possession, steps being taken for acquisition of land. (f) Whether the area is contiguous or not or whether there is any thoroughfare? 63 V. Proposed Financial/Investment Details: (i) Cost of Land. (ii) Cost of proposed infrastructure, namely: (a) Development of land. (b) Boundary walls, roads, drainage, water supply, electricity, etc. (c) Ready Built up factory premises. (d) Port.
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(e) Airport. (f) Others, if any, give details. (iii) Total Investments VI. Means of Financing a) Equity Capital b) Term Loan c) External Commercial Borrowings, if any, furnish details. d) Any other source Total VII. Equity including Foreign Investment (i) $ Thousand) (Rs.lakhs) (a) Authorized ________________ ________________ (b) Subscribed ________________ ________________ (c) Paid up Capital ________________ ________________
Note: If it is an existing company, please give the break up of the existing and proposed capital structure
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(ii) Pattern of share holding in the paid-up capital (Amount in Rupees) (Rs. in lakhs) (US $ Thousand) (a) Foreign holding _____________ ___________________ (b) Non Resident Indian company / individual holding (i) Repatriable _____________ ___________________ (ii) Non-repatriable _____________ ___________________ (c) Resident holding _____________ ___________________ (d) Total _____________ ___________________ VIII Development of identified area as Special Economic Zone: Give the following details:Area in hectares (i) Total area proposed for development as Special Economic Zone. (ii) Area proposed to be developed as processing area. 64 (iii) Development activities proposed in the processing area, namely: (a) site development, (b) construction of boundary walls, (c) construction of roads, (d) installation of water supply and sanitation and sewage systems, (e) power distribution system, (f) telecom facilities, (g) construction of factory buildings and warehouses. (h) Any other activity which may be required in the processing area. (iv) Area proposed to be developed as non-processing area. (v) Activities proposed in the non-processing area, namely: (a) Residential. (b) Commercial complex. (c) Recreation facilities. (d) Social amenities give details. (e) Others specify. (vi) Standards of operation and maintenance of the facilities proposed IX. Indicate exports and direct and indirect employment likely to be generated during the first five year period (Attach a Project Report outlining the economic and commercial viability of the proposal) X. Has the applicant obtained any, Permission or Approval from Government of India for setting up any other SEZ/s, if so, details may be given and/or whether any such application is pending consideration before the State Government or Government of India? XI. Has the applicant or any of his partners/Directors who are also partners/Directors of any other company or its associate concerns are being proceeded against and have been debarred from getting any License or Letter of Intent or Letter of Permission under the Foreign Trade (Development and Regulation) Act, 1992/Custom Act, 1962/Foreign Exchange Management Act, 1999/Central Excise Act,
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1944. Place : _________ Signature of the Applicant ____________________ Date : ________ Name in Block Letters ____________________ Designation ____________________ Official Seal/Stamp_________________ Tel. No. ____________________ E-mail ____________________ Web-Site, if any ____________________ Full Residential Address ____________________ Note: Furnish 25 copies of the application with project report. 65 UNDERTAKING I/We hereby undertake to abide by the provisions of the Special Economic Zones Act, 2005 and rules and orders made there-under. I/We hereby declare that the above statements are true and correct to the best of my/our knowledge and belief. I/We will abide by any other condition, which may be stipulated by the Government of India or the State Government. I/We fully understand that any Letter of Approval granted to me/us on the basis of the statement furnished is liable to cancellation or any other action that may be taken having regard to the circumstances of the case if it is found that any of the statements or facts therein are incorrect or false. An affidavit duly sworn in support of the above information is enclosed. Place : _________ Signature of the Applicant ____________________ Date : ________ Name in Block Letters ____________________ Designation ____________________ Official Seal/Stamp _________________Tel. No. ____________________ E-mail ____________________ Web-Site, if any ____________________ Full Residential Address ____________________
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Import Duty Calculation Chart

Ass. Value (INR) Duty Heads 100.00 Customs Excise Excise Cess Edu Cess Customs Cess Rate 10 8 2 1 2 Duty 10.00 8.80 0.18 0.09 0.38 0.19 4.79 24.42 124.42 Total for Taxes / Duty
Edu Cess 1 SAD 4 Duty Calculation Total Duty / Charts Taxes Aggregate Value to be Charged
19.64 4.79
Customs Duties SAD
Reverse Duty Calculation Chart

Value to be Duty Heads Charged (INR) 124.42 CST / VAT 100 Customs Excise Excise Cess Edu Cess Customs Cess Edu Cess Total Duty / Customs Duties Taxes
Rate 4 10 8 2 1 2 1
Duty Value for Duties / Taxes 119.63 CST/VAT 4.00 10.00 8.80 0.18 0.09 0.38 0.19 19.64 100.00 Custom Duty
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Industrial Training Project Report

PROJECT REPORT ON SEZ(Special Economic Zone)

RANBAXY LABORATORIES LTD

SUBMITTED BY:NISHA RAJPAL (TRAINEE)

SUBMITTED TO:FINANCE DEPTT MISS DURGA SHARMA (FINACE MANAGER)

Industrial Training Project Report

Terms and Conditions

Industrial Training Project Report

Industrial Training Project Report

Distribution of SEZs State wise distribution:-

Industrial Training Project Report

Industrial Training Project Report

SEZs : Sector wise Distribution

Industrial Training Project Report

Industrial Training Project Report

Industrial Training Project Report

Incentives and Facilities

Income Tax Holiday (Units In Sez)

Income Tax Holiday (Developer )

y Period For first five years Next five years

Industrial Training Project Report

Securities Transaction Tax

Central Sales Tax/VAT

Enhanced limit of Rs. 2.4 crores p.a. allowed for Managerial

Industrial Training Project Report

Drugs & Cosmetics Act

Exemption from Port Restriction Under Drugs & Cosmetic Rules

Industrial Training Project Report

Ranbaxy Laboratories Limited, India's largest pharmaceutical company, is an

developed America, followed

Industrial Training Project Report

Ranbaxy and world one specialist agreement

Laboratories of in top to the 10 the in apply

Ltd. worlds that

pharmaceutical Ranbaxy as the at is

company also well, beginning one with

India is the 2005,

pharmaceutical drugs; law category

shares new, largest Japan.

the the two

process status other,

Vision & Aspirations

Industrial Training Project Report

By 2012 With a strong presence in Developed Markets

opportunities, across projects although,

complementing regulatory Besides synergies be

Sankyo ends that

projected to grow at around 5% in 2009.

Industrial Training Project Report

Industrial Training Project Report

Industrial Training Project Report

OBJECTIVES OF THE COMPANY

Industrial Training Project Report

Industrial Training Project Report

Manufacturing Plants in India RANBAXY Laboratories Ltd.

Research & Development

Active Pharma Ingredients (API)

Dosage Form (DF)

Paonta Sahib (2010)

Malanpur Paonta Sahib (1030)

Okhla (EVT) (2030)

Industrial Training Project Report

Processing / Non-processing Area Processing Area:

Non Processing Area: