/** * The main template file * * This is the most generic template file in a WordPress theme * and one of the two required files for a theme (the other being style.css). * It is used to display a page when nothing more specific matches a query. * E.g., it puts together the home page when no home.php file exists. * * @link https://developer.wordpress.org/themes/basics/template-hierarchy/ * * @package WordPress * @subpackage Tally * @since 1.0.0 */ ?>
Special Economic Zone (SEZ) is considered separate from the other areas in the country. It refers to areas where the economic regulations are different from the rest of the country.
SEZs differ from other areas as they have simpler tax regimes and comparatively easier compliance rules to follow. Conducting business with an SEZ comes with benefits when compared to conducting business in other areas. The reason for implementing SEZs was simply; to fuel economic growth with support at the state and center levels. SEZs generate increased economic activity, promote investment from various sources (domestic and foreign), and promote exports of both goods and services. SEZs also improve employment and fuel the development of infrastructure in the country.
The supply to and from SEZ is termed as import and export because SEZs are considered separate territories.
Let us say one SEZ unit is located in Delhi. Supplies from this SEZ unit to a vendor located in Gujarat are considered inter-state supplies. Similarly, supplies from the vendor in Gujarat to the SEZ unit in Delhi are considered inter-state supplies. As per the GST rules, Integrated Goods and Service Tax (IGST) will be applicable in such cases.
The features of GST on special economic zones are as follows:
Read More:
3rd Party Integration Testing Challenges & Tally Way of Testing
Step-by-Step Process for e-Invoicing Registration: How to Get Started
Understanding e-Invoice Penalties: Strategies to Minimize Penalties
Digital Payment Requests in TallyPrime via UPI
Attendance 2.0: Revolutionizing Office Check-ins with Smartphones and Wi-Fi
Connected e-Invoice Software Vs Other e-Invoicing Tools – Which is better?