TAX SOP WINDOW FOR SEZ UNITS TO STAY OPEN LONGER
Incentives & facilities offered to units in SEZ
- Duty-free import/domestic procurement of goods for development, operation and maintenance of SEZ units.
- 100% income tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first five years, 50% for next five years and 50% of the ploughed-back export profit for next five years. MAT to apply.
- External Commercial Borrowing by SEZ units up to $500 million in a year without any maturity restriction through recognized banking channels.
- Exemption from central sales tax.
- Exemption from service tax.
- Single-window nod for central & State-level approvals.
- Exemption from state sales tax and other levies as extended by the respective state governments.
Major incentives & facilities for SEZ developers
- Exemption from customs/excise duties for development of SEZs for authorized operations approved by the BoA.
- Income tax exemption on income derived from the business of development of the SEZ in a block of 10 years in 15 years under Section 80-IAB of the Income Tax Act
- Exemption from central sales tax
- Exemption from service tax.
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