India has got certain economic laws but SEZ in Khurja is an
approved geographical area where the general economic laws are not implemented
because it’s functioning is based on the objective of enabling the economic
activities for encouraging the growth of the exports.
Special economic zone in Khurja provides the operating
environment which is hassle free, has excellent infrastructural Equipment Rental facilities,
provides exemption from indirect taxes and duties, gives income tax holidays,
FDI is liberal and forex norms are liberal, etc.
This scheme has been approved by the government of India and
has been supported by the state governments. The infrastructure required by the
SEZ has been developed by the developers and the co-developers. The overall
scheme is supported by the designated development commissioner and the units
operating within SEZ. Certain units belonging to the promotion scheme of the
exports like EHTP, EOU or STPI would want to migrate to SEZ. Migration isn’t
easy because SEZ enjoys certain specific benefits, has prescribed procedures
and there is a documentation procedure that is required to be followed
carefully.
Planning
advisory of SEZ
- Advisory that regulates the timing to move from STPI to SEZ
- Supports the preparation of the business plan
- Advisory for optimization of strategic advantages by using SEZ
- Maximization of tax advantages to prepare the structure and action plan to move to SEZ
- Getting the unit’s approval
- Obtaining the exemptions of CST and service tax
- Regularization of the unit online
- Supporting procurement of services and goods that are duty free
- Assisting for periodic filings of various authorities
Reporting
and Compliance of SEZ
- Designing and deploying the compliance system for the unit of SEZ
- Reporting and reviewing Piles Foundation Company the conditions of compliance related to
- The benefits of the income tax holidays
- Exemption of service tax on the input
- Periodic filings with various authorities
- Rules and acts of SEZ and the approval of the SEZ
- Risk associated with the end to end audit of the SEZ unit
