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What is a Special Ecomomic Zone
It is a geographic area where Number of tax concessions are given by government
Laws relating to import and export are more liberal as compared to other parts of the country.
Sale of goods to
Developer of Special Economic Zone
Or
Units of Special Economic Zone
is exempt from tax
Conditions to be fulfilled
Sale must be for specified purpose
Specified purpose means
|
In case of |
Specified purpose |
|
Developer of Special Economic Zone
|
Development, operation and maintenance of SEZ by developer.
|
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Unit in SEZ: |
Setting, operation, maintenance, manufacture, trading, production, processing, assembling, repairing, Conditioning, reengineering, packaging, use of packing material/packing accessories in a unit located in any SEZ |
Developer of SEZ or unit of SEZ must be authorized by authority specified by Central Government
Buyer (Developer of SEZ or unit of SEZ) must be registered
Buyer has to submit a declaration in Form I.
Goods specified in the registration certificate
What is form I?
It is a form given by buyer to seller in case of interstate sales where
Buyer is Developer of SEZ or unit of SEZ
And
Both buyer and Seller are registered.
