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GIFT City: Difference between revisions
→Tax incentives available to SEZ Units other than IFSC units
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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: | |||
* Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) not applicable to companies in IFSC opting for new tax regime. | |||
* Tax holiday for capital gains for aircraft leasing companies, tax exemption for aircraft lease rentals | |||
* No GST on services received by these companies, provided to IFSC SEZ units or offshore clients | |||
* State subsidies such as 100 per cent reimbursement of stamp duty and registration fee, 100 per cent reimbursement of electricity duty and Rs. 1 subsidy on power tariff for five years, 100 per cent reimbursement of employer’s provident fund contribution, and lease rental subsidy for every 50 sq ft per employee | |||
* National/foreign exchanges set up under IFSC have total tax exemption from Security Transaction Tax (STT), Commodity Transaction Tax (CTT), Dividend Distribution Tax (DDT), Long Term Capital Gain (LTCG), Short Term Capital Gain (STCG).<ref name=":2" /> | |||
=== Operational Benefits: === | === Operational Benefits: === | ||