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Quick Links
- Policy Info
- Union Budget 2017-18
- Information On Online Application For E-iec
- All Industry Duty Drawback Rates 2016
- Certificate Of Origin
- Export Promotion Schemes
- Foreign Trade Policy Key Highlights 2015-20
- Foreign Trade Policy Statement 2015-20
- Foreign Trade Procedure 2015-20
- Merchandise Exports from Indian Scheme
- Movement Of An Export Consignment From Factory Onwards
- Standard Input Output Norms (SION)
- SEZ Benefits
- Trade Promotion Assistance Scheme
- Useful Link
- Goods And Service Tax (Gst) In India
- HS Codes
- Interest Equalisation Scheme
- How to Export & Import
- Incentive Schemes
SEZ Units have been exempted from the following duties and levies :-
1. Payment of customs duty for goods or services imported into SEZ for its operations and goods exported or services provided from SEZ outside India.
2. Payment of excise duty for goods brought from Domestic Tariff Area to SEZ for its authorized operations.
3. Payment of Income Tax for 15 years from its commencement as follows :-
* 100% deductions of income from profits and gains from export for the first five years
* 50% deductions of income from profits and gains from export for the next five years
* 50% deductions of income from profits and gains which have been credited to reserve account to be utilized for the purpose of the said business for the next five years.
4. Payment of Minimum Alternate Tax under section 115JB of the Income Tax Act
5. Payment of Dividend Distribution /Tax under section 115 O of the Income Tax Act.
6. Payment of Central Sales Tax for its authorised operations.
7. Payment of Service Tax under Chapter V of the Finance Act 1994 on taxable Service consumed for its authorised operation
8. Payment of VAT for the purchases made within the State Governments (Tamilnadu) under TN VAT Act.
9. SEZ units is also entiteld to other beneftis as may be admissible from time to time for goods procured from DTA and services provided from DTA/outside India for its authorised operations within SEZ.
Software
The government levies service tax on software of a foreign source downloaded from the internet; both value-added tax and service tax are levied on software purchased domestically. The IT sector has asked the government to provide a level-playing field between the two.