Introduction

A New Business Power Centre Now Operational

GIFT City – India’s first Operational Smart City – is an integrated development on 886 Acres of land with 62 mn sq. ft. of Built Up area which includes Office spaces, Residential Apartments, Schools, Hospital, Hotels, Clubs, Retail and various Recreational facilities, which makes this City a truly “Walk to Work” City.

GIFT City is the new Financial & Technology Gateway of India for the World.

This City is a Vertical City which will optimize land area consumption for development. The City is located on the bank of river Sabarmati connecting the Business capital (Ahmedabad) and Political capital (Gandhinagar) of Gujarat State- The Growth Engine of India.

GIFT City consists of am exclusive Domestic Tariff Area and a dedicated multi services Special Economic Zone (SEZ) for international operations for various services sector players. Also, GIFT multi services SEZ has the status of India’s first International Financial Services Centre (IFSC) approved by the Government of India.

The GIFT City Advantages

Global IT & Finance Hub – A new global destination
Integrated Development – Commercial Office, Residential and Institutional Space
Strong Promoters – Govt. of Gujarat initiative supported by Govt. of India
Central Business District – Highrise district with landmark buildings
International Financial Services Centre (IFSC) – India’s first and only operational IFSC
State-of-the-Art Infrastructure – Next-gen urban planning offering Plug & Play infrastructure
Strategic Location – 20 mins away from Domestic and International Airport with planned Metro connectivity
Ease of Doing Business – Conducive Regulatory Environment

Fiscal Incentives in GIFT SEZ

Tax Incentives for IFSC Units

100% tax exemption for 10 consecutive years out of 15 years
Minimum Alternate Tax (MAT) / Alternative Minimum Tax (AMT) at 9% of book profits / adjusted profits to apply
Dividend Distribution Tax exemption for IFSC Companies
Dividend Distribution Tax exemption for IFSC Companies
No GST on Services - Received by unit in IFSC, Provided to other IFSC / SEZ units, Exported to offshore clients including intermediary services
GST applicable on services provided to Domestic Tariff Area (DTA)
Security Transaction Tax (STT) waived off
Commodity Transaction Tax (CTT) waived off
Long Term Capital Gain (LTCG) waived off
Short Term Capital Gain (STCG) waived off
Withholding Tax waived off
Goods and Services Tax (GST) waived off
Govt. of Gujarat has also exempted Stamp Duty for entities having registered office in GIFT City for capital market activities

Tax Incentives for Non - IFSC Units (SEZ Units)

New SEZ occupiers are eligible to receive both direct and indirect tax benefits, only if their Letter of Approval (LOA) was issued before the end of March 2020.
All new SEZ occupiers getting LOA beginning April 2020 will not be eligible to receive direct tax benefits. However, the sunset clause will not impact their indirect taxes, and they will continue to receive benefits such as exemptions on GST and Service Export from India Scheme (SEIS) incentives (on eligible services), as long as they are operational
Minimum Alternate Tax (MAT) payable at 15%
Exemption from payment of Customs Duties and/or GST. The SEZ unit is free to make supplies to a Domestic Tariff Area (DTA) unit, based on a payment of IGST, where the payment is received in foreign exchange. However, GST applicable on services provided to DTA

For more details View Website

Get more details on India's 1st Operational Smart City & IFSC

Gujarat Maritime Cluster

Gujarat Maritime Cluster is conceived as a dedicated ecosystem of Ports, Maritime / Shipping and Logistics services providers along with pertinent Government Regulators, in the same geographic ensemble (GIFT City), leveraging on their proximity and improved access, thus enhancing the competitiveness and growth of the maritime sector.