Bare Acts

The Special Economic Zones Act, 2005

An Act to provide for the establishment, development and management of the Special Economic Zones for the promotion of exports and for matters connected therewith or incidental thereto.

विशेष आर्थिक जोन अधिनियम, 2005

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Act Details

Act Number:

Act Year:

2005

Location:

Enactment Date:

6/23/2005

Enforcement Date:

10-02-2006

Ministry:

Ministry of Commerce and Industry

Department:

Department of Commerce

All Section List (SEZ Act)

PRELIMINARY

Section 1 to Section 2

Section 1

Short title, extent and commencement.

Section 2

Definitions.

ESTABLISHMENT OF SPECIAL ECONOMIC ZONE

Section 3 to Section 7

Section 3

Procedure for making proposal to establish Special Economic Zone.

Section 4

Establishment of Special Economic Zone and approval and authorisation to operate it to, Developer.

Section 5

Guidelines for notifying Special Economic Zone.

Section 6

Processing and non-processing areas.

Section 7

Exemption from taxes, duties or cess.

CONSTITUTION OF BOARD OF APPROVAL

Section 8 to Section 10

Section 8

Constitution of Board of Approval.

Section 9

Duties, Powers and functions of Board.

Section 10

Suspension of letter of approval and transfer of Special Economic Zone in certain cases.

DEVELOPMENT COMMISSIONER

Section 11 to Section 12

Section 11

Development Commissioner.

Section 12

Functions of Development Commissioner.

SINGLE WINDOW CLEARANCE

Section 13 to Section 25

Section 13

Constitution of Approval Committee.

Section 14

Powers and functions of Approval Committee.

Section 15

Setting up of Unit.

Section 16

Cancellation of letter of approval to entrepreneur.

Section 17

Setting up and operation of Offshore Banking Unit.

Section 18

Setting up of International Financial Services Centre.

Section 19

Single application form, return, etc.

Section 20

Agency to inspect.

Section 21

Single enforcement officer or agency for notified offences.

Section 22

Investigation, inspection, search or seizure.

Section 23

Designated Courts to try suits and notified offences.

Section 24

Appeal to High Court.

Section 25

Offences by companies.

SPECIAL FISCAL PROVISIONS FOR SPECIAL ECONOMIC ZONES

Section 26 to Section 30

Section 26

Exemptions, drawbacks and concessions to every Developer and entrepreneur.

Section 27

Provisions of Income-tax Act, 1961 to apply with certain modification in relation to Developers and entrepreneurs.

Section 28

Duration of goods or services in Special Economic Zones.

Section 29

Transfer of ownership and removal of goods.

Section 30

Domestic clearance by Units.

SPECIAL ECONOMIC ZONE AUTHORITY

Section 31 to Section 41

Section 31

Constitution of Authority.

Section 32

Officers of Authority and other staff.

Section 33

Special provision for transfer of officers or other employees to Authority.

Section 34

Functions of Authority.

Section 35

Grants and loans by Central Government.

Section 36

Constitution of Fund and its application.

Section 37

Accounts and audit.

Section 38

Directions by Central Government.

Section 39

Returns and reports.

Section 40

Power to supersede Authority.

Section 41

Members, officers and other employees of Authority to be public servants.

MISCELLANEOUS

Section 42 to Section 58

Section 42

Reference of dispute.

Section 43

Limitation.

Section 44

Applicability of provisions of this Act to existing Special Economic Zones.

Section 45

Person to whom a communication may be sent under this Act.

Section 46

Identity Card.

Section 47

Authorities responsible for administration.

Section 48

Protection of action taken in good faith.

Section 49

Power to modify provisions of this Act or other enactments in relation to Special Economic Zones.

Section 50

Power of State Government to grant exemption.

Section 51

Act to have overriding effect.

Section 52

Certain provisions not to apply.

Section 53

Special Economic Zones to be ports, airports, inland container depots, land stations, etc., in certain cases.

Section 54

Amendment to First Schedule.

Section 55

Power to make rules.

Section 56

Power to remove difficulties.

Section 57

Amendment of certain enactments.

Section 58

Savings.