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CS Executive · Economic, Commercial and Intellectual Property Laws · Law relating to Special Economic Zones

A State Government wants to support developers in SEZs within its territory. Which step is expressly contemplated by Section 50 of the SEZ Act?

A State Government may notify policies granting exemption from State taxes, levies and duties to the Developer or entrepreneur, and may delegate State Act powers to the Development Commissioner. It cannot modify Central laws or fix the duty-free stay period, which belong to the Central Government.

  1. ANotifying policies granting exemption from State taxes, levies and duties to the Developer or entrepreneurCorrect
  2. BDeclaring any Central tax inapplicable to SEZs in the State
  3. CAmending the Customs Act, 1962 for SEZs in the State
  4. DFixing the period for which goods stay in a Unit without payment of duties

Explanation

Section 50 lets the State Government notify policies and take steps for law granting exemption from State taxes, levies and duties, and delegating State Act powers to the Development Commissioner. The period of stay of goods under Section 28 is prescribed by the Central Government.

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