Special Economic Zones

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Special Economic Zones (SEZs)

Special Economic Zones (SEZs) is a geological district that has financial laws not the same as a nation’s average monetary laws. Here various financial laws mean bother free laws where organizations can appreciate different advantages for maintaining their professional tax exempt imports, and so forth.

These SEZs are situated inside a nation’s national outskirts for the most part close fringe with the goal that exchange is simple from these point.

विशेष आर्थिक क्षेत्र (सेज) एक भौगोलिक क्षेत्र में एक देश के विशिष्ट आर्थिक कानूनों से अलग आर्थिक कानूनों गया है। यहाँ विभिन्न आर्थिक कानूनों परेशानी मुक्त कानूनों जहां कंपनियों को कर मुक्त आयात, आदि की तरह अपने व्यवसाय चलाने के लिए विभिन्न लाभ ले सकते हैं मतलब
ये सेज आमतौर पर सीमा के निकट एक देश की राष्ट्रीय सीमाओं के भीतर स्थित हैं इतना है कि व्यापार इन बिंदु से आसान है।

Who can set up these SEZs in India?

Any private/open/joint part or state government or its offices can set up a SEZ for bother free imports and fares.

A remote organization can likewise set up SEZs in India.

Earlier endorsement is required from the individual state governments for setting up SEZ. The states fulfill themselves that they are in a position to supply fundamental inputs like water, power, and so on. After this, the recommendations are sent to the service of business and industry by the state government.

किसी भी सार्वजनिक / निजी / संयुक्त क्षेत्र या राज्य सरकार या उसकी एजेंसियों परेशानी मुक्त आयात और निर्यात के लिए एक विशेष आर्थिक क्षेत्र स्थापित कर सकते हैं।
एक विदेशी एजेंसी ने भारत में विशेष आर्थिक क्षेत्रों की स्थापना कर सकते हैं।
पूर्व अनुमोदन सेज की स्थापना के लिए संबंधित राज्य सरकारों से आवश्यक है। राज्यों खुद को संतुष्ट है कि वे एक स्थान पर पानी, बिजली, आदि इसके बाद जैसे बुनियादी आदानों की आपूर्ति में हैं, प्रस्तावों को राज्य सरकार द्वारा केंद्रीय वाणिज्य और उद्योग मंत्रालय को भेजा जाता है।

Where are SEzs situated in India?

A portion of the utilitarian SEZs are situated at Santa Cruz (Maharashtra), Cochin (Kerala), Kandla and Surat (Gujarat), Chennai (Tamil Nadu), Visakhapatnam (Andhra Pradesh), Falta (West Bengal), Noida (Uttar Pradesh), Indore (Madhya Pradesh), and so on.

कार्यात्मक सेज में से कुछ, सांताक्रूज (महाराष्ट्र), कोचीन (केरल), कांडला और सूरत (गुजरात), चेन्नई (तमिलनाडु), विशाखापत्तनम (आंध्र प्रदेश), Falta (पश्चिम बंगाल), नोएडा (उत्तर प्रदेश) में स्थित हैं इंदौर (मध्य प्रदेश), आदि


What benefits do these zones give to organizations in India?

Organizations are entitled for a bundle of motivations and an improved working environment.

Obligation free import of crude materials for generation.

100% Income Tax exception on fare pay for SEZ units for initial 5 years, half for next 5 years from that point.

Setup of business with no permit bothers and the long procedure required in it.

No permit is required for imports, including second hand hardware.

Exclusion from Central Sales Tax and Service Tax.

Single window leeway instrument.

Outer business getting by SEZ units upto US $ 500 million in a year.

Be that as it may, why are these SEZs permitted, if government needs to give such a variety of advantages to the organizations in these territories?

The essential thought process is to pull in the Foreign Investment (FDI) in the nation. This can be clarified by an illustration:

The Government needs supports for its different exercises, to set up the required foundation and for this it will require the assets. The assets can be gathered as speculations from both national and additionally remote organizations. Along these lines, SEZs are permitted. From one perspective the organizations will get the different advantages of the bother free laws; along these lines expanding their income creating limit as they can deliver and exchange merchandise at a lower cost. Then again, the Government will get the assets required or the ventures for the monetary development. So this gives a win-win circumstance to both.

The primary targets of the SEZ Act 2005 in India are:

era of extra financial movement

advancement of fares of merchandise and administrations;

advancement of venture from local and outside sources;

making of vocation open doors;

advancement of base offices.

Some different actualities about SEZs:

The idea of SEZ’s was to a great extent spearheaded by China.

India was one of the first in Asia to perceive the adequacy of the Export Processing Zone (EPZ) model in advancing fares, with Asia’s first EPZ set up in Kandla in 1965.

There were a few deficiencies experienced by virtue of the assortment of controls and clearances.

In this way, the Special Economic Zone (SEZ) strategy was declared on April 1, 2000 in India.

Various gatherings were held to balance out SEZ arrangement administration in the nation.

The Special Economic Zones Act, 2005, was passed by Parliament in May, 2005 which got Presidential consent on the 23rd of June, 2005.

The Act secured the primary destinations given above.

With such a large number of points of interest of the SEZs, there are its disadvantages as well:

The greatest downside is the taking up of the arable area from agriculturists to set up these zones. As the arable area would be taken, there will be low harvest creation which is not a decent sign for Indian economy where the extensive piece of its GDP is subject to horticulture.

In the most recent spending plan 2016-17:

In the event of a SEZ unit, it is recommended that if a unit starts its operations at the very latest 31st March 2020, it might be qualified to claim wage tax break under segment 10AA of the Income Tax Act. Though, the designers of SEZs, which are not operational yet, have been surrendered time to 31st March 2017 to make their SEZs operational to profit wage tax breaks under segment 80-IAB of the Income Tax Act.

This implies after 31st March 2020, every one of the organizations working in India will need to pay charge.

एक सेज इकाई के मामले में, यह प्रस्ताव है कि एक इकाई पर या 31 वें मार्च 2020 से पहले अपने परिचालन शुरू करते हैं, तो यह आयकर अधिनियम की धारा 10 कक के तहत आयकर के लाभ का दावा करने के लिए पात्र होंगे। जबकि, सेज के डेवलपर्स, जो परिचालन नहीं हैं फिर भी, समय 31 मार्च 2017 तक उनकी सेज खंड आयकर अधिनियम की 80-आईएबी के तहत लाभ उठाने के लिए आय-कर लाभ के परिचालन के लिए दिया गया है।
इसका मतलब यह है कि 31 मार्च 2020 के बाद, पूरे भारत में सक्रिय कंपनियों के टैक्स का भुगतान करना होगा।



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