→Tax benefits
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|Exemption from STT, CTT, stamp duty in respect of transactions carried out on IFSC exchanges | |Exemption from STT, CTT, stamp duty in respect of transactions carried out on IFSC exchanges | ||
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=== Tax incentives available to SEZ Units other than IFSC units === | === Tax incentives available to SEZ Units other than IFSC units === | ||
* Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units | * Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units | ||
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** Provided by SEZ/IFSC units to offshore clients | ** Provided by SEZ/IFSC units to offshore clients | ||
* Single window clearance for Central and State level approvals | * Single window clearance for Central and State level approvals | ||
==== State Subsidies as per the IT & ITeS Policy ==== | ==== State Subsidies as per the IT & ITeS Policy ==== | ||
{| class="wikitable" | {| class="wikitable" | ||
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<nowiki>*</nowiki>The above incentives provided by the Government of Gujrat are applicable to IFSC and GIFT SEZ Units. | <nowiki>*</nowiki>The above incentives provided by the Government of Gujrat are applicable to IFSC and GIFT SEZ Units. | ||
=== | ===Tax Benefits for Companies=== | ||
To attract foreign and domestic investment in GIFT, the city’s international financial services centre (IFSC) was declared a multi-service Special Economic Zone (SEZ) in 2015 and the Union Budget 2016-17 provided it with a competitive tax regime. Here are the tax benefits for companies falling under IFSC: | To attract foreign and domestic investment in GIFT, the city’s international financial services centre (IFSC) was declared a multi-service Special Economic Zone (SEZ) in 2015 and the Union Budget 2016-17 provided it with a competitive tax regime. Here are the tax benefits for companies falling under IFSC: | ||
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Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 (“ODI Regulations”) restrict investment by an Indian resident into an overseas firm in the financial services sector. To enable, Indian residents to set-up and invest funds in GIFT City, RBI, vide its Circular dated May 12, 2021 has permitted sponsor contribution from a sponsor Indian party in an Alternative Investment Fund (AIF) established overseas, including IFSC | Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004 (“ODI Regulations”) restrict investment by an Indian resident into an overseas firm in the financial services sector. To enable, Indian residents to set-up and invest funds in GIFT City, RBI, vide its Circular dated May 12, 2021 has permitted sponsor contribution from a sponsor Indian party in an Alternative Investment Fund (AIF) established overseas, including IFSC | ||
==References== | ==References== | ||
{{reflist}} | {{reflist}} | ||