BENEFITS

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SEZ Benefits

ADVANTAGES OF INFOPARK

A Hub of Innovation, where Infopark brings together top IT companies, creating a dynamic environment where creativity and ideas take shape.

Infopark offers modern office spaces, high-speed internet, uninterrupted power supply, and world-class facilities, ensuring businesses have everything they need to succeed.

Conveniently located with excellent access to airports, highways, and public transportation, Infopark ensures seamless connectivity to major hubs.

With top universities and educational institutions nearby, Infopark provides access to a talented and skilled workforce ready to tackle diverse challenges.

Infopark combines premium infrastructure with competitive costs, making it an attractive option for businesses of all sizes, from small companies to global corporations.

Infopark is designed to support work-life balance with amenities like food courts, fitness centres, green spaces, and childcare facilities, making it a welcoming place for employees.

Regularly hosted events, workshops, and networking opportunities at Infopark encourage collaboration and professional development among businesses and individuals.

Infopark enjoys strong government support, offering companies exclusive benefits and incentives under IT-friendly policies, driving growth and expansion.

Beyond business, Infopark contributes to regional development by creating jobs, supporting local businesses, and driving economic progress.

Committed to sustainability, Infopark incorporates eco-friendly practices and green initiatives, ensuring a positive impact on the environment and the community.

SEZ Benefits

Special Economic Zones

A major land area of Infopark across the campuses is notified as IT/ITES Sector Specific Special Economic Zone (SEZ) by the Ministry of Commerce, Govt.of India. The purpose of SEZs is to promote Export oriented Business units, generation of employment opportunities, development of infrastructural facilities etc. A Special Economic Zone (SEZ) is a "specifically delineated, duty-free enclave and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs" (EXIM Policy 2000, Chapter 9, Para 30).

All trade inflows into the SEZ are treated as imports and all outflows from the SEZ are treated as exports.

The concept of SEZ was introduced by the Indian Government in the EXIM Policy 2000. Since then the SEZ Act has been passed in 2005 and the rules and regulations governing the same have been notified in 2006.

The preferential policy framework within which an SEZ functions is designed to give an impetus to exports and provide the necessary supporting environment to make these export hubs an attractive investment destination point for global players with multi-lateral trade dimensions.

Facilities and Incentives

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.

Exemptions from customs and excise duties, central sales tax and local taxes on construction material, capital equipment, raw material, spares, and consumables. These have now subsumed into GST and supplies to SEZs are zero rated under IGST Act, 2017.

Exemption from State GST.

Other levies as imposed by the respective State Governments.

Exemption on stamp duty and land registration charges.

Single window clearance mechanism for approvals.

On-site customs and self-certification processes.

Repatriation of profits without dividend balancing permitted.

100% foreign direct investment permitted.

All the benefits are as per the SEZ Act 2005 outlined by the Government of India. However local taxes / duties which are under the purview of the State Government are governed by the respective State Governments.

The major incentives and facilities available to SEZ developers include:-

Exemption from customs/excise duties for development of SEZs for authorized operations approved by the BOA.

Exemption from Minimum Alternate Tax (MAT) under Section 115 JB of the Income Tax Act. (withdrawn w.e.f. 1.4.2012)

Exemption from Dividend Distribution Tax (DDT) under Section 115O of the Income Tax Act. (withdrawn w.e.f. 1.6.2011)

Exemption from Central Sales Tax (CST).

Exemption from Service Tax (Section 7, 26 and Second Schedule of the SEZ Act).

The SEZ Rules provide for:-

Simplified procedures for development, operation, and maintenance of the Special Economic Zones and for setting up units and conducting business in SEZs.

Single window clearance for setting up of an SEZ.

Single window clearance for setting up a unit in a Special Economic Zone; For approvals of units establishing inside Infopark SEZ, A Window clearance Board in place chaired by the Development Commissioner, Cochin Special Economic Zone.

Single Window clearance on matters relating to Central as well as State Governments.

Simplified compliance procedures and documentation with an emphasis on self-certification.

Administrative set up

The functioning of the SEZs is governed by a three tier administrative set up. The Board of Approval is the apex body and is headed by the Secretary, Department of Commerce. The Approval Committee at the Zone level deals with approval of units in the SEZs and other related issues. Each Zone is headed by a Development Commissioner, who is ex-officio chairperson of the Approval Committee.

Once an SEZ has been approved by the Board of Approval and Central Government has notified the area of the SEZ, units are allowed to be set up in the SEZ. All the proposals for setting up of units in the SEZ are approved at the Zone level by the Approval Committee consisting of Development Commissioner, Customs Authorities and representatives of State Government. All post approval clearances including grant of importer-exporter code number, change in the name of the company or implementing agency, broad banding diversification, etc. are given at the Zone level by the Development Commissioner. The performance of the SEZ units are periodically monitored by the Approval Committee and units are liable for penal action under the provision of Foreign Trade (Development and Regulation) Act, in case of violation of the conditions of the approval.

For more details on SEZs, Please visit https://sezindia.gov.in/

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