SEZs exempt from integrated GST

07-07-2017
DH

“The central government hereby exempts all goods imported by a unit or a developer in the Special Economic Zone (SEZ) for authorised operations, from the whole of the integrated tax leviable thereon under...the Customs Tariff Act, 1975 read with section 5 of the Integrated Goods and Service Tax Act, 2017,” the Department of Revenue has said in a notification. An SEZ area is considered to be a foreign territory for trade operations and duties, and is mainly set up for promoting exports.

Exports from SEZs grew by about 12%to Rs 5.24 lakh crore in 2016-17. The shipments from these zones in 2015-16 were aggregated at Rs 4.68 lakh crore. Till May 1, the government had approved as many as 421 zones. Out of this, 218 are operational.

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