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CMA Final · Indirect Tax Laws and Practice · Special Economic Zone Scheme

A notification under Section 49(1) of the SEZ Act, 2005 is proposed to apply a Central Act to all SEZs only with modifications. Which statement is correct about the procedure for issuing it?

A copy of the proposed notification must be laid in draft before each House of Parliament for a total of thirty days. If both Houses agree to disapprove it, it is not issued; if both agree on a modification, it is issued only in that modified form.

  1. AIt is issued at once and laid before Parliament afterwards for information
  2. BA copy of the proposed notification must be laid in draft before each House of Parliament for a total period of thirty days, and it is issued in the form agreed if both Houses agree to modify itCorrect
  3. CIt requires only the consent of the Board of Approval
  4. DIt becomes law only after the President's assent to a Bill

Explanation

Section 49(2) requires the draft to be laid before each House for thirty days in total, across one or more successive sessions. If both Houses agree to disapprove it, it is not issued; if both agree on modification, it is issued in the modified form. Post-issue laying is not the rule.

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