Best Profitable Gujarat State

The Gujarat Chamber of Commerce & Industry [GCCI] works to create and sustain an environment conducive to the growth of industry and trade in Gujarat, partnering both of them through advisory processes.Founded in 1949, by pioneers of industrial Gujarat Sheth Shri Kasturbhai Lalbhai and Sheth Shri Amrutlal Hargovandas, the Chamber has an illustrious list of doyens of trade and industry passing the torch of enlightened leadership to the next in a smooth seamless passage.
With 3500 direct members which includes over 250 Trade and Industry Associations and leading Chambers of Commerce of the State, GCCI is growing to serve and serving to grow. It is affiliated with apex bodies like Federation of Indian Chambers of Commerce & Industry [FICCI], Indian National Committee of International Chamber of Commerce [ICC], All India Organisation of Employers [AIOE], and the Associated Chambers of Commerce & Industry [ASSOCHAM].
In its efforts to promote economic growth of the Country and the State, Gujarat Chamber of Commerce and Industry has, over the years, initiated several focused and meaningful dialogues covering various micro and macroeconomic aspects of development.
GCCI aims at giving the whole policy making process a more holistic hue through intra and inter-industry discussions, industry-community parleys and industry government meetings. Thus, the Chamber constantly endeavours to render effective services to its members.
GCCI has expert committees which devote their attention and co-ordinate activities in their areas of expertise. These committees also plan and implement exclusive events in their select spheres.
GCCI also extends its expertise, experience and feedback at numerous platforms, committees, councils, commissions and other bodies to facilitate business processes.
GCCI has been actively promoting the object of furthering international business relations by sponsoring business delegations to all the corners of the globe. Apart from the above, GCCI receives various delegations from abroad which encourage bilateral trade and economic co-operation with each of the countries. GCCI maintains active links with over 25 leading Chambers of Commerce across the globe with whom it has entered
The NIRMA GCCI Business Information Centre at GCCI offers access to information relating to export-import, trade & commerce, industry and related topics. It is endowed with vast resources of books, and documents on subjects related to the business community.
GCCI is not oblivious of its social obligations. It has undertaken and implemented massive relief work projects for masses affected by natural calamities. Working closely with the Sankat Nivaran Society and the Narmada Foundation Trust, GCCI has always aimed to provide succor to the affected parties.A forward - looking and expanding organization, the chamber proposes to innovate its activities further so as to meet the ever changing demands of the business environment.

The joint parliamentary committee had its meeting in Ahmedabad on 29th July, 2008 in Taj Residency, Nr.Airport.

The Chairman of the Committee was Mr. Ananth Kumar and prominent amongst other members of parliament were Mr. Gurudas Dasgupta, Mr. R. Prabhu, Mr. Raashid Alvi and Mr. Madhusudan Mistry.

The Gujarat Chamber of Commerce & Industry was invited to discuss the issue regarding SEZ. The President of GCCI, Shri Rupesh C. Shah led the team of Gujarat Chamber of Commerce & Industry which includes the Hon. Secretary Shri Durgesh Buch and other Sr. experts.

The Gujarat Chamber of Commerce and Industry made strong representation regarding following issues.

1. As per the provision Section 10 AA [Regulation 7] of the Income Tax Act, profit derived from the export of Article or things or services shall be the amount which bears to the profit of the business of the undertaking being the units, the same proportion as the export turnover in respect of such Article or things or services bears to total turnover of the business carried on by the assessee.

The President Shri Rupesh C. Shah explained to the Hon’ble Members of the parliament that the computation of the benefit is related to the total turnover. Suppose an assessee of a company has a unit in SEZ and one unit in Non-SEZ, their total turnover of both units is being considered for computing the exemption which is incorrect. The provision of taking into account the total turnover is in contrast with other provision of that as provided in section 10 [A] or 80 IA where a deduction is allowed on the basis of turnover of the eligible business unit and not on the basis of total turnover of the assessee as a whole. The Committee members took active interest in the issue and raised number of questions which were replied by the President and other committee members.

2. If one unit is already existed in SEZ and it plans to set up additional unit in the SEZ areas, this additional unit should also be covered in the definition of undertaking for the purpose of exemption under Section 10[AA] 7.

The President argues that the objection of granting exemption for unit in SEZ is to encourage exports towards economic growth.

3. If a unit already existed in DTA – STPI and if it plans to shift and is undertaken in SEZ then exemption Section 10[AA]7 should be granted and if necessary, the laws should be amended. It was also explained that the shifting should be permitted only if additional investment is made in SEZ.

The President Shri Rupesh C. Shah strongly argued that the SEZ benefits are very much necessary for the purpose of encouraging export, economic growth and employment generation.

To substantiate the contention, he gave some facts that more than 82,000 people are indirectly employed in state’s SEZs. Kandala SEZ is the largest employer, with more than 19,000 direct employees and in long term, SEZs notified so far, would provide jobs to over 4 lakh people in the State of Gujarat.

“It appears that may be, Honourable Members of the Committee are misled due to inadequate information of ground realities”. Said Shri Rupesh C. Shah.

Regarding loss of revenue on account of Excise, he mentioned that since the prevailing situation is compatible all over the country irrespective of locational preference, the perceived loss is only notional in nature.