| 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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