| The incentives and facilities offered to the units in SEZs for attracting investments into the SEZ& including foreign investment include |
| 1. duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units. |
| 2. 50% income tax exemption on export income for SEZ units for first 5 years, 25% for next 5 years thereafter. |
| 3. exemption from minimum alternate tax. |
| 4. exemption from central sales tax. |
| 5. exemption from service tax. |
| Which of the statements given above are correct? |
A) 1, 2 and 3
B) 2, 4 and 5
C) 1, 4 and 5
D) 1, 3, 4 and 5
Correct Answer: D
Solution :
[d] 100% Income Tax exemption on export income for SEZ units under Section 10 A of the Income Tax Act for first 5 years 50% for next 5 years thereafter and 50% of the ploughed back export profit for 15 years. The other provisions are exempted from minimum alternate tax, exempted from central sales tax and exempted from service tax.
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