A company desires to establish its unit in a Special Economic Zone (SEZ) set up by the Government of India. You as an expert, advice the company in this regard highlighting the facilities and privileges which the company

The incentives and facilities offered to the units in SEZs for attracting investments into the SEZs, including foreign investment include:- Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years. Exemption from Minimum Alternate Tax under section 115JB of the Income Tax Act. External commercial borrowing by SEZ units upto US $ 500 million in a year without any maturity restriction through recognized banking channels. Exemption from Central Sales Tax. Exemption from Goods and Service Tax. Single window clearance for Central and State level approvals. Exemption from State sales tax and other levies as extended by the respective State Governments.