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SSC CGL 2024 PYQ — Question 47

SSC CGL - 24 Sep 2024 - Shift 1 • General Awareness • Q47

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What is the primary benefit offered to businesses in Special Economic Zones (SEZs)?

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Correct answer: A

Explanation

The correct answer is option 2 i.e. Tax and duty concessions.

  • The primary benefit offered to businesses in Special Economic Zones (SEZs) is a favorable business environment that includes various tax incentives and regulatory relaxations to promote trade, investment, and economic activity.
  • SEZ units enjoy income tax holidays (e.g., 100% exemption for the first 5 years, partial exemptions for subsequent years). SEZs reduce bureaucratic hurdles with single-window clearances for approvals and operations.SEZ units are considered outside the customs territory for trade operations, allowing duty-free imports and exports.