Free trade zones (FTZ) Export processing zones (EPZ) Free zones/ Free economic zones (FZ/ FEZ) Industrial parks/ industrial estates (IE) Free ports Bonded logistics parks (BLP Urban enterprise zones Ques. Who is SEZ Developer? SEZ Developer means a person who, or a State Government which, has been granted by the Central Government a letter of approval under sub-section (10) of section 3 and includes an Authority and a Co-Developer The Developer or Co-Developer shall have at least twenty-six percent of the equity in the entity proposing to create business, residential or recreational facilities in a Special Economic Zone in case such development is proposed to be carried out through a separate entity or a special purpose vehicle being a company formed and registered under the Companies Act, 1956 (1 of 1956). Purpose of SEZ To provide an internationally competitive environment of exports. The objectives of Special Economic Zones include making available goods and services free of taxes and duties supported by integrated infrastructure for export production, expeditious and single window approval mechanism and a package of incentives to attract foreign and domestic investments for promoting export led growth. Some of their key objectives include: Increase in Foreign Trade by promotion of exports of goods and services Increased Foreign Investment Domestic Job creation and; Effective Administration and Compliance Procedures. Better Infrastructure Facilities GST Registrations by SEZ Scheme of registration of tax payers under GST envisage a single registration number in a State or Union territory. However a person having multiple business verticals in a State or Union territory is permitted to have separate registration for each business vertical [Section 25(2) of the CGST Act, 2017]. Revised draft of registration rules released on March 31, 2017 make it mandatory for a SEZ unit or SEZ developer to apply for registration as a business vertical distinct from its other units located outside the SEZ. A separate registration each would be required to be taken in case a single legal entity has more than one unit in same SEZ or the
Free trade zones (FTZ) Export processing zones (EPZ) Free zones/ Free economic zones (FZ/ FEZ) Industrial parks/ industrial estates (IE) Free ports Bonded logistics parks (BLP Urban enterprise zones Ques. Who is SEZ Developer? SEZ Developer means a person who, or a State Government which, has been granted by the Central Government a letter of approval under sub-section (10) of section 3 and includes an Authority and a Co-Developer The Developer or Co-Developer shall have at least twenty-six percent of the equity in the entity proposing to create business, residential or recreational facilities in a Special Economic Zone in case such development is proposed to be carried out through a separate entity or a special purpose vehicle being a company formed and registered under the Companies Act, 1956 (1 of 1956). Purpose of SEZ To provide an internationally competitive environment of exports. The objectives of Special Economic Zones include making available goods and services free of taxes and duties supported by integrated infrastructure for export production, expeditious and single window approval mechanism and a package of incentives to attract foreign and domestic investments for promoting export led growth. Some of their key objectives include: Increase in Foreign Trade by promotion of exports of goods and services Increased Foreign Investment Domestic Job creation and; Effective Administration and Compliance Procedures. Better Infrastructure Facilities GST Registrations by SEZ Scheme of registration of tax payers under GST envisage a single registration number in a State or Union territory. However a person having multiple business verticals in a State or Union territory is permitted to have separate registration for each business vertical [Section 25(2) of the CGST Act, 2017]. Revised draft of registration rules released on March 31, 2017 make it mandatory for a SEZ unit or SEZ developer to apply for registration as a business vertical distinct from its other units located outside the SEZ. A separate registration each would be required to be taken in case a single legal entity has more than one unit in same SEZ or the