The Special Economic Zones Act, 2005
(Act No. 28 of 2005)

Amended upto April, 2024

TABLE OF CONTENTS

S.No Chapter Details
1. Chapter I Section-1: Short title, extent and commencement Section-2: Definitions Preliminary
2. Chapter II Section-3: Procedure for making proposal to establish Special Economic Zone Section-4: Establishment of Special Economic Zone and approval and authorisation to operate to, Developer Section-5: Procedure for making proposal to establish Special Economic Zone Section-6: Processing and non-processing areas Section-7: Exemption from taxes, duties or cess Establishment of Special Economic Zone
3. Chapter III Section-8: Constitution of Board of Approval Section-9: Duties, powers and functions of Board. Section-10: Suspension of letter of approval and transfer of Special Economic Zone in certain cases Constitution of Board of Approval
4. Chapter IV Section-11: Development Commissioner Section-12: Functions of Development Commissioner Development Commissioner
5. Chapter V Section-13: Constitution of Approval Committee Section-14: Powers and functions of Approval Committee Section-15: Setting up of Unit Section-16: Cancellation of letter of approval to entrepreneur Section-17: Setting up and operation of Offshore Banking Unit Section-18: International Financial Services Centre Section-19: Single application form, return, etc. Section-20: Agency to inspect Section-21: Single enforcement officer or agency for notified offence. Section-22: Investigation, inspection and search or seizure Section-23: Designated Courts to try suits and notified offences Section-24: Appeal to High Court Section-25: Offences by companies Single Window Clearance
6. Chapter VI Section-26: Exemptions, drawbacks and concessions to every Developer and entrepreneur. Section-27: Provisions of Income-tax Act, 1961 to apply with certain modification in relation to Developers and entrepreneurs Section-28: Duration of goods or services in Special Economic Zones Section-29: Transfer of ownership and removal of goods Section-30: Domestic clearance by Units Special Fiscal Provisions for Special Economic Zones
7. Chapter VII Section-31: Constitution of Authority Section-32: Officers of Authority and other staff Section-33: Special provision for transfer of officers or other employees to Authority. Section-34: Functions of Authority. Section-35: Grants and loans by Central Government. Section-36: Constitution of Fund and its application. Section-37: Accounts and audit Section-38: Directions by Central Government. Section-39: Returns and reports Section-40: Power to supersede Authority Section-41: Members, officers and other employees of Authority to be public servants Special Economic Zone Authority
8. Chapter VIII Section-42: Reference of dispute Section-43: Limitation Section-44: Applicability of provisions of this Act to existing Special Economic Zones Section-45: Person to whom a communication may be sent under this Act Section-46: Identity Card Section-47: Authorities responsible for administration Section-48: Protection of action taken in good faith Section-49: Power to modify provisions of this Act or other enactments in relation to Special Economic Zones Section-50: Power of State Government to grant exemption Section-51: Act to have overriding effect Section-52: Certain provisions not to apply Section-53: Special Economic Zones to be ports, airports, inland container depots, land stations, etc., in certain cases Section-54: Amendment to First Schedule Section-55: Power to make rules Section-56: Power to remove difficulties Section-57: Amendment of certain enactments Section-58: Savings Miscellaneous
The First Schedule
The Second Schedule -MODIFICATIONS TO THE INCOME-TAX ACT, 1961 Section-10AA: Special provisions in respect of newly established Units in Special Economic Zones Section-54GA: Exemption of capital gains on transfer of assets in cases of shifting of industrial undertaking from urban area to any Special Economic Zone. Section-80-I AB: Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone Section-80LA: Deductions in respect of certain incomes of Offshore Banking Units and International financial Services Centre
The Third Schedule Section-2CA: Power of Central Government to apply provisions of this Act to Special Economic zones Section-PART II: Amendments to The Banking Regulation Act, 1949 Section-PART III: Amendment to The Indian Stamp Act, 1899

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