SEZ: Special Economic Zones
What is SEZ?#
Designated areas with special tax and business incentives for exports.
Benefits#
- Income tax exemption (first 5 years)
- GST benefits
- Customs duty exemption
- Simplified procedures
Types of SEZ#
- Manufacturing
- Services
- IT/ITES
- Biotechnology
Compliance#
- Export obligations
- Annual returns
- Duty drawback utilization
Conclusion#
SEZs promote exports and manufacturing.