GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Banking services offered to units set up in Special Economic Zones (SEZs) have been exempted for paying tax :
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Income Tax
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Service Tax
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Capital Gains Tax
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None of these
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Explanation:
Detailed explanation-1: -You have to file refund application in Form RFD-01 at GST Portal and you can file for refund of multiple tax period in one refund application. 2. You have to provide turnover of Zero-Rated supplies to SEZ unit and SEZ Developer and Adjusted Total Turnover for the period refund is sought for.
Detailed explanation-2: -The deduction under section 10AA shall be allowed as under: 100% of profits of such undertaking from exports from assessment year 2018-19 to assessment year 2022-23. 50% of profits of such undertaking from exports from assessment year 2023-24 to assessment year 2027-28.
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