Special Economic Zones
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Tamilnadu Special Economic Zone
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Tamilnadu Special Economic Zone means the specified area within the territory of the state of Tamilnadu where the regular regulatory practices like remittance restrictions are not applicable. It is the Tamilnadu state government that has encouraged the setting up of many SEZ in Tamilnadu.
The state government of Tamilnadu has encouraged the setting up of SEZ Tamilnadu for the help in the economic and industrial development of the state. The reason for this is the fact that SEZ helps in bringing in money into the state and also creates employment opportunities for many people. Tamilnadu Special Economic Zone is being set up in the state and as a result of this the number of SEZs in the state are bound to increase. The various places where SEZs are being set up in Tamilnadu are Hosur, Tuticorin, Ennore, Tirunelveli, and Vandalur.
Tamilnadu SEZs that are being set up in the state would accommodate companies from various sectors such as information technology, garments, automobile, pharmaceuticals, engineering industries, and leather goods. The various incentives that the Tamilnadu government gives to Tamilnadu Special Economic Zone are that the SEZ is cleared through Single Window Clearance, the developers of SEZ and the industrial units within the SEZ are exempted from taxes such as Turnover Tax, Sales Tax, and VAT, all industrial units in the SEZ will not have to pay registration charges and stamp duty towards land transactions.
Further the various incentives given to Tamilnadu Special Economic Zone by the Tamilnadu state government are that labor rules will be simplified for the SEZ, the government may provide such facilities like Post Office, Police Station, and Fire Services but the cost of these facilities will have to be borne by the developer of the SEZ, and all the industrial units that are located within the SEZ will be declared as Public Utility Service. Also the various incentives given by the Tamilnadu government to Tamilnadu Special Economic Zone are that the state electricity board will ensure continuous supply of power to all the units within the state, the developer of the SEZ in association with the government agencies will ensure sufficient supply of water to the units within the SEZ, and the state government will maintain law and order within the SEZ.
Tamilnadu Special Economic Zone, thus, has been provided with many incentives from the state government so that it can grow and flourish. And this will help the Tamilnadu state to grow and prosper.
Tamilnadu SEZs that are being set up in the state would accommodate companies from various sectors such as information technology, garments, automobile, pharmaceuticals, engineering industries, and leather goods. The various incentives that the Tamilnadu government gives to Tamilnadu Special Economic Zone are that the SEZ is cleared through Single Window Clearance, the developers of SEZ and the industrial units within the SEZ are exempted from taxes such as Turnover Tax, Sales Tax, and VAT, all industrial units in the SEZ will not have to pay registration charges and stamp duty towards land transactions.
Further the various incentives given to Tamilnadu Special Economic Zone by the Tamilnadu state government are that labor rules will be simplified for the SEZ, the government may provide such facilities like Post Office, Police Station, and Fire Services but the cost of these facilities will have to be borne by the developer of the SEZ, and all the industrial units that are located within the SEZ will be declared as Public Utility Service. Also the various incentives given by the Tamilnadu government to Tamilnadu Special Economic Zone are that the state electricity board will ensure continuous supply of power to all the units within the state, the developer of the SEZ in association with the government agencies will ensure sufficient supply of water to the units within the SEZ, and the state government will maintain law and order within the SEZ.
Tamilnadu Special Economic Zone, thus, has been provided with many incentives from the state government so that it can grow and flourish. And this will help the Tamilnadu state to grow and prosper.
For further information on Tamilnadu Special Economic Zone, please refer to the following sites:
- Coimbatore SEZ
- Nanguneri Special Economic Zone
- Fiscal Support Provided by Tamilnadu SEZ
- Advantages and Infrastructural Facilities of Tamilnadu SEZ
- Madras Special Economic Zone (MEPZ)
- Tamilnadu Special Economic Zone Policy
