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INDUSTRIAL SECTOR — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDUSTRIAL SECTOR2 Marks
Question
Which special facilities are avail in Special Economic Zone?
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Answer

Special Facilities of $SEZ:$
  • The units set up in $SEZ$ are granted $100\%$ to tax exemption from export income.
  • It is exempted from central sales tax, service tax, custom duty, excise duty, etc.
  • All permissions to be obtained from central and states are given from single window.
  • Units set up in $SEZ$ are free from any labour laws.
  • As labour laws are not applicable to these units, all its units are announced as public utility service.
  • Units set up in $SEZ$ without any control can purchase product or service from anywhere in the world.
  • Any individual, government, joint enterprise, state government or its representative institution can set up $SEZ.$
  • Foreign institutions too can set up $SEZ$ in India.
  • All types of $SEZ$ can be controlled by government.

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