Special Economic Zones (SEZ) Regulations and Benefits
Explore the regulations and benefits of Special Economic Zones (SEZ), including inter-state supplies, import considerations, and export-related policies. Learn about tax implications, authorized services, and exemptions within SEZs for efficient operations.
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Presentation Transcript
Special Economic Zones (SEZ) Special Economic Zones (SEZ) RAKESH GARG LLB, FCA Executive Director: S.S. Kothari Mehta & Co., C.A. 1
Supplies TO/FROM SEZ DTA supplies Goods and Services to SEZ Shall be considered as inter-state supply and zero rated supply Supplier eligible for export benefits under Foreign Trade Policy Supplier in DTA can supply after payment of IGST (and claim refund of IGST) or against LuT {and claim refund of ITC if supplied for authorized operations [Rule 89(1)]} Ministry of Commerce (SEZ Section) has notified 66 services as default authorized services vide F.No.D.12/19/2013-SEZ dt. 2.1.2018 Where service is taxable & subject to RCM - SEZ Recipient is liable?? Procurement of Goods (Import) from Outside India by SEZ Shall be considered as import Import for authorized operations - Exempt vide Notification No. 64/2017-Cus 3
SUPPLIES TO/FROM SEZ Procurement of Services (Import) from Outside India by SEZ Shall be considered as import Import for authorized operations - Exempt vide Notification No. 18/2017-IGST Supplies of Goods and Services by SEZ to DTA Shall be considered as inter-state supply Goods shall be subject to Customs Duty and IGST; Services shall be subject to IGST As per Rule 48/SEZ Rules, bill of entry shall be filed by DTA buyer. SEZ Unit may also file BE, if so authorized by DTA buyer. 4
SUPPLIES TO/FROM SEZ Supplies of Goods & Services by SEZ to Outside India Shall be considered as Zero rated Shall be considered as export Supplies of Goods and Services within SEZ Shall be considered as inter-state supply Shall be considered as zero rated supply. Where service (say Bank within SEZ) is provided to SEZ Unit, it may be supplied without payment of tax on LuT Supply within two SEZ units: Only import of goods and services for authorized operations are exempt. Hence whether exempt or zero rated against LuT ???? 5
THANK YOU THANK YOU RAKESH GARG, LLB, FCA Phone: 98102 16270 Mail: rakesh.garg@sskmin.com
