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"An SEZ is a specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs"
    .... EXIM Policy 2000, Chapter 9 para 30
  Our SEZ  
 
Special Economic Zone
 
Since 1991 a series of measures have been taken by the Government of India to liberalize trade and the success of the concept of the Special Economic Zones in China has validated the concept of enhancement of export performance through concentration of resources in some regions (specific areas called SEZs) with tax incentives, to drive high growth rates with cascading effects on the economy of the region. This finally resulted in an SEZ Act , 2005 which spells out the various rules and regulations of SEZ tax benefits and the operational procedures. This Central Act is supported by State Policies on SEZs in the states where it is implemented
The key benefits available in an SEZ are listed below:-
  • 15-year graded income tax holiday
  • Exemption of excise and customs duties
  • Exemption from Central Sales tax
  • Exemption from Services Tax
  • Exemption from all local taxes
  • Concessions on Stamp duty and registration
  • Single window clearance
  • 100% FDI through automatic route
  • No minimum export performance requirement. Units to achieve positive net foreign exchange
  • Domestic Sales on payment of applicable duty
  • Offshore banking unit
  • On site custom house
  • Self-certification
  • Warehouses/ICD
     
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