Beruflich Dokumente
Kultur Dokumente
Presented To:
Mr. Surendra Singh Rajpurohit Presented By: Jupitara Hazarika
Mamta Rajpurohit
Neha Garg Preeti Vyas Priyanka Sharma Shilpa Rathore
Introduction
According to EXIM Policy 2000:
Specifically delineated duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations, duties and tariffs
Cont
A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's typical economic laws
SEZ Scheme
Incorporated in EXIM Policy on April 1, 2000 To provide an internationally competitive & hassle free environment for exports
Cont...
Units may be set up in SEZ for
Objectives
To promote exports of goods and services To earn foreign exchange To generate employment opportunities To transfer foreign technology To promote investment from domestic and foreign source To develop infrastructure facilities To contribute in the overall development of economy
Cont
External commercial borrowing by SEZ units up to US $ 500 million in a year without any maturity restriction Exemption from Central and State Sales Tax Exemption from Service Tax Single window clearance for Central and State level approvals
Cont
SEZ could be set up for manufacture of goods for rendering services for both manufacturing of goods and for rendering services Warehousing Zone
SEZ Framework
Performance of the units to be monitored by a Committee Simplified certification headed by Development Commissioner and consisting of Customs compliance procedures and
SEZ Framework
Exemption from interest rate surcharge on import finance SEZ unit to be positive net foreign net exchange earner within three years No License required for import
SEZ Framework
No separate documentation required for Customs
deemed exports
Support service like banking, post office,
SEZ Framework
Investment made by individuals etc in a SEZ company also eligible for exemption u/s 88 of IT Act
SEZ Framework
100% foreign direct investment (FDI) is freely allowed in manufacturing sector in SEZ units SEZs permitted to have non-pollution industries and recreational facilities like golf courses hotels and non-pollution service industries
SEZ Framework
Setting up of Off-Shore Banking Units allowed in SEZs OBUs entitled for 100% Income-Tax exemption for 3 years & 50% for next 2 years Enhanced limit of Rs. 2.4 cr per annum allowed for managerial remuneration Exemption from requirement of domicile in India for 12 months prior to appointment as Director
Proposal directly to the BoA requires prior recommendation of the State Govt.
State Govt. to forward the proposal to the BoA, with recommendations, within 45 days
BoA decides on the Proposal subject to the requirements prescribed by the Central Govt.
Proposal Approved
Proposal Rejected
Proposal Approved
Problem in SEZ
Transparency in policy formulation Payment problem Problem in land acquisition
Minimum size of multi-product SEZ, not to be less than 1000 hectares
Bibliography
www.sezindia.nic.in www.exportindia.nic www.exportimport.com www.taxindiaonline.com