India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone(EPZ) model in promoting exports, with Asia`s first EPZ set up in Kandla in 1965. With a view to overcome the shortcomings on account of the multiplicity of controls and clearances, absence of world-class infrastructure and with a view to attract larger foreign investments in India, the Special Economic Zones(SEZs) Policy was announced in April 2000. SEZ units may be set up for manufacture of goods and rendering of services.
- SEZ unit may sell goods including by-products and services in DTA in accordance with the import policy in force, on payment of applicable duty.
- Developers of SEZ get duty exemptions and concessions on all their import procurements, whether of goods or services, for the purpose of development.
- Goods and services going into the SEZ area from DTA are treated as exports and goods coming from the SEZ area into DTA are treated as if these are being imported.
Incentives And Facilities Offered To The SEZs
Following are the benefits available for the SEZ unit/developer
- Duty free import of goods for development, operation and maintenance of SEZ units.
- Exemption from payment of IGST on the import of services by SEZ unit or developer
- Supply of services from DTA to SEZ unit or developer to be treated as “Zero Rated” supply under GST
- Exemption from payment of export duty (any duty of customs) if leviable on goods being exported by SEZ unit
- Foreign Investment up to 100% allowed for all manufacturing activities except specified activities.
- Single window clearance for Central and State level Approvals.
How We Assist
We may assist you:-
- Preparation and filing of application with the concerned office of SEZ.
- We assist in assessing the feasibility of the scheme
- We assist in carrying out all the formalities, documentation, representation and coordination with the relevant authorities to get the approval of SEZ unit/developer.
- We also take matters of clarifications/relaxations etc. from the DGFT.
- We hand hold the clients in the case of exit from SEZ i.e. debonding of the unit.
