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SPECIAL ECONOMIC ZONES (SEZ) > DEVELOPING SEZ

Application process

Every application for setting up of SEZ shall be forwarded to the Concerned State Government. The State Government shall, forward it along with their comments and commitment to the Department of Commerce, Government of India. The proposal incorporating the commitments of the State Government will be considered by an Inter-Ministerial Committee in the Department of Commerce. On acceptance of the proposal, a letter of permission will be issued to the applicant.

15 copies of application, indicating name and address of the applicant, status of the promoter along with a project report covering the following particulars may be submitted to the Chief Secretary of the State. Details like location of the proposed Zone with proposed to be established, its area, distance from the nearest sea port / airport / rail / road head etc, financial details, including investment proposed, mode of financing and viability of the project, details of foreign equity and repatriation of dividends etc., if any, whether the Zone will allow only certain specific industries or will be a multi-product Zone. The SEZ should have a minimum area of 1000 hectares and at least 25 % of the area is to be earmarked for developing industrial area for setting up of units.

Benefits for SEZ developers

  • 100% FDI allowed for
  • Income Tax benefit under ( 80 IA ) to developers for any block of 10 years in 15 years
  • Duty free import/domestic procurement of goods for development, operation and maintenance of SEZs.
  • Income of infrastructure capital fund/co. from investment in SEZ exempt from Income Tax
  • Investment made by individuals etc in a SEZ co also eligible for exemption u/s 88 of IT Act
  • Developer permitted to transfer infrastructure facility for operation and maintenance.
  • Generation, transmission and distribution of power in SEZs allowed
  • Full freedom in allocation of space and built up area to approved SEZ units on commercial basis.
  • Authorised to provide and maintain service like water, electricity, security, restaurants and recreation centres on commercial lines.



 
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