SPECIAL ECONOMIC ZONES (SEZ) (SEZ Act 2005 and SEZ Rules); 2-tier incentives structure for industries – Central Government incentives and State Government incentives.
Central Government incentivizes only select industries and a few areas for balanced regional development. Different states in India provide incentives through state industrial policy and sectoral policies intending to reduce the cost of manufacturing and enhance ease of doing business.
In the last 12 months, India has undertaken a host of historic tax reforms such as the reduction of Corporate Income Tax, the abolition of taxes such as Dividend Distribution Tax (DDT) and Minimum Alternate Tax (MAT). State Governments have been at the forefront of introducing new reforms and extending attractive incentive packages for businesses. Some of the commonly offered incentives are Capital Subsidy, Interest Subsidy, Stamp Duty Concessions, State GST refunds, employment subsidy, etc.
Simplified and Consolidated Taxes: GST is a single tax on the supply of goods and services, starting from the manufacturer to the consumer that reduced the administrative complications, and simplified the indirect tax system by removal of cascading taxes. It has made India as a unified common market.
Koppal Toy Cluster: https://koppal-toycluster.com/government-support-ecosystem/
Hubballi Durable Goods Cluster: https://hubballi-durablegoodscluster.com/government-support-ecosystem/