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

Under Section 4 of the SEZ Act, 2005, what must the Developer do after receiving the letter of approval so that an area can be notified as a Special Economic Zone?

After the letter of approval is granted, the Developer submits exact particulars of the identified area to the Central Government. That Government may notify the area as a Special Economic Zone once it is satisfied that the prescribed requirements are fulfilled.

  1. AApply to the State Government for land allotment only
  2. BSubmit the exact particulars of the identified area to the Central Government, which may then notify the area if the requirements are fulfilledCorrect
  3. CObtain a Board suspension order
  4. DNotify the area itself in the Official Gazette

Explanation

Section 4(1) requires the Developer, after the letter of approval, to submit exact particulars of the identified area to the Central Government, which may notify the area after satisfying itself that the requirements are fulfilled. The Developer cannot notify the zone itself.

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