INSIGHTS

Introduction : Special Economic Zones are set up in India to attract export-led manufacturing. To facilitate the exports, the Special Economic Zones Act 2005 was enacted. Units inside the zone receive duty-free imports, duty-free domestic procurement and zero-rated GST supplies. The income-tax holiday under section 10AA of the Income-tax Act 1961 is not open to new units. For new manufacturers, the main benefits are therefore customs and GST concessions, and these depend on c