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Special Economic Zone (SEZ) Act 2005

SEZ Act 2005

  • Short tittle & definitions
  • ESTABLISHMENT OF SPECIAL ECONOMIC ZONES
    Procedure for making proposal to establishment of SEZs-Establishment of SEZ and approval and authorisation to operate to, Developer - Guidelines for notifying SEZe - Processing and non-processing areas Exemption from taxes, duties or cess
  • CONSTITUTION OF BOARD OF APPROVAL
    Constitution of Board of Approval - Duties, powers and functions of Board - Suspension of letter of approval and transfer of Special Economic Zone in certain cases
  • DEVELOPMENT COMMISSIONER
    Development Commissioner - Functions of Development Commissioner
  • SINGLE WINDOW CLEARANCE
    Approval Committee - Setting up and OBU, IFSC- Agency to inspect, enforcement, investigation, inspection and search or seizure - Designated Courts - Appeal to High Court
  • Special Fiscal Provisions for SEZs
    Exemptions, drawbacks and concessions - Provisions of Income-tax Act - Duration of goods or services - Transfer of ownership and removal of goods -Domestic clearance by Units
  • SEZ AUTHORITY
    Constitution - Staff - Transfers - Functions - Grants and Loans - Accounts and Audit - Returns - Directions by the Government -Power to supersede Authority
  • MISCELLANEOUS
    Reference of dispute -Limitation - Power to modify provisions - Power of State Government - Power to make rules -Power to remove difficulties - Amendment of certain enactments-Savings.
  • THE FIRST SCHEDULE
    (See sections 7 and 54) Enactments
  • THE SECOND SCHEDULE
    THE SECOND SCHEDULE- (See section 27) MODIFICATIONS TO THE INCOME-TAX ACT, 1961. (43 of 1961)
  • THE THIRD SCHEDULE
    AMENDMENT TO CERTAIN ENACTMENTS -AMENDMENT TO THE INSURANCE Act, 1938 - AMENDMENTS TO THE BANKING REGULATION ACT, 1949 -AMENDMENT TO THE INDIAN STAMP ACT, 1899





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