Exemption from State taxes, duties, fees, cess and levies.

(1) The following shall be exempted from the payment of any tax, duty, fee, cess or any other levy under the Relevant Act, enacted by the Punjab State Legislature, namely :— (i) any goods exported out of or imported into the Special Economic Zone; (ii) any inter-unit transaction of goods within the Special Economic Zone; (iii) any goods from the Special Economic Zone, sent for value addition to the domestic tariff area and returned to the Special Economic Zone thereafter; (iv) any service providing for the value addition to a product within the Special Economic Zone; (v) any service, provided to the Special Economic Zone developer or a unit in Special Economic Zone for authorized operations; (vi) stamp duty and registration fee on purchase of land for establishing a Special Economic Zone; (vii) stamp duty and registration fee on the first transfer or lease of immovable property within the Special Economic Zone. However, all subsequent transfers or leases shall be liable to levy of stamp duty and registration fee; and (viii) levy of social security cess on purchase of land for establishing a Special Economic Zone, and on the first transfer or lease of immovable property within the Special Economic Zone. (2) The exemption from payment of tax under this Act, shall be allowed to the Developer of a Special Economic Zone and to the Special Economic Zone Unit as per the Punjab Special Economic Zone Policy, notified by the State Government, vide No. 5/58/2002/11B/4630, dated the 11th August, 2005. (3) The Department of Labour of the State Government shall be competent to declare any unit or establishment, set up in the Special Economic Zone as public utility service under the Industrial Disputes Act, 1947.