What is mean by sez ?

Question

What is mean by sez ?

Answer 1

SEZ - Special Economic Zone 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.

The facilities available to SEZ Developer

100% FDI allowed for:

(a) townships with residential, educational and recreational facilities on a case to case basis,

(b)franchise for basic telephone service in SEZ.

Income Tax benefit under ( 80 IA ) to developers for any block of 10 years in 15 years.

Duty free import/domestic procurement of goods for development, operation and maintenance of SEZs

Exemption from Service Tax /CST.

Income of infrastructure capital fund/co. from investment in SEZ exempt from Income Tax

Investment made by individuals etc in a SEZ co also eligible for exemption u/s 88 of IT Act

Developer permitted to transfer infrastructure facility for operation and maintenance.

Generation, transmission and distribution of power in SEZs allowed

Full freedom in allocation of space and built up area to approved SEZ units on commercial basis.

Authorised to provide and maintain service like water, electricity, security, restaurants and recreation centres on commercial lines.

Answer 2

SEZ : Special Economic Zone.

For more information refer the following link

http://sezindia.nic.in/

Answer 3

SEZ means Special Economic Zones.

A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's typical economic laws. The category 'SEZ' covers a broad range of more specific zone types, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial Estates (IE), Free Ports, Urban Enterprise Zones and others. Usually the goal of an SEZ structure is to increase foreign investment.  

Answer 4

SEZ - Special Economic Zone