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CMA Final · Indirect Tax Laws and Practice · Export Promotion Schemes under Foreign Trade Policy

Under the Foreign Trade (Development and Regulation) Act, 1992, in respect of which area may the Central Government direct that the foreign trade policy applies to goods, services and technology with specified exceptions, modifications and adaptations?

The proviso to Section 5 allows the Central Government to notify that, for Special Economic Zones, the foreign trade policy applies to goods, services and technology with specified exceptions, modifications and adaptations. No other zone or unit category is named in that proviso.

  1. AExport Oriented Units only
  2. BSpecial Economic ZonesCorrect
  3. CFree trade warehousing zones only
  4. DBorder haats and land customs stations

Explanation

The proviso to Section 5 empowers the Central Government to direct, by notification in the Official Gazette, that in respect of Special Economic Zones the foreign trade policy applies with such exceptions, modifications and adaptations as are specified. The other areas are not mentioned in that proviso.

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