Question

explain any five facilities available in the economic zone​

Answer 1

Answer:

A Special Economic Zone (SEZ) is a geographical region which has economic laws more liberal than a nation's economic laws.

Explanation:

The facilities available in SEZs developed by state and central govts. to attract foreign investments are :

• Companies are provided with specific incentives and benefits such as income tax exemptions, exemption  from service tax and central tax and tax holidays
• For any foreign investor looking for land to set up a plant, SEZ allots land speedily without any encumbrance, disruption, or litigation
• Foreign Investors can decide to set-up their production facilities for export to other nations or to sell in regional/domestic markets, on the basis of their preference.
• Duty-free import/procurement of goods for operations  and of SEZs units. No License is required for Imports.
• The ease of doing business, along with the availability of dependable and clean water, power, and other resources, together with trained and educated, are available across SEZs

Answer 2

Five facilities available in the Special Economic Zones ( SEZs ) by the central and state governments to attract foreign investment :

( i ) Duty free import and domestic procurement of goods for the development , operation , and maintenance of your company .

( ii ) 100 percent income tax exemption on export income for first five years , 50 percent for five years thereafter , and 50 percent of the export profit reinvested in the business for the next five years .

(iii ) Exemption from the Goods and Services Tax ( GST ) and levies imposed by state government . Supplies to SEZs are zero rated under the IGST Act , 2017 , meaning they are not taxed .

iv )External commercial borrowing ( ECB ) is allowed up to US $ 500 million a year without restriction . For developers of an SEZ , the ECB channel may be availed after receiving government approval ,