Taxation Laws (Amendment) Act, 2017

Amendment of section 38 In the Central Excise Act, in section 38, after the word, figure and letter “section 3A”, the word, figure and letter “section 3C” shall be inserted. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | […]

Insertion of new sections 3B and 3C. In the Central Excise Act, after section 3A, the following sections shall be inserted, namely:— ”3B. Emergency power of Central Government to increase duty of excise.— (1) Where, in respect of any goods, the Central Government is satisfied that the duty leviable thereon under section 3 should be increased

Amendment of section 3A In the Central Excise Act, in section 3A, in Explanation 1, for the words and figures, “First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986)”, the words ”Fourth Schedule” shall be substituted. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing |

Substitution of new section for section 3 In the Central Excise Act, for section 3, the following section shall be substituted, namely:— “3. Duty specified in the Fourth Schedule to be levied.— (1) There shall be levied and collected in such manner as may be prescribed a duty of excise to be called the Central Value

Amendment of section 2 In the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the Central Excise Act), in section 2,— (a)   in clause (d), for the words and figures “the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986)”, the words “the Fourth

Amendment of section 3 In the Customs Tariff Act, 1975 (51 of 1975), in section 3,— (a)   in sub-section (2), — (i)   in clause (ii), for item (a), the following item shall be substituted, namely:—     “(a) the duty referred to in sub-sections (1), (3), (5), (7) and (9);”; (ii)   in

Insertion of new sections 108A and 108B In the Customs Act, after section 108, the following sections shall be inserted, namely:— “108A. Obligation to furnish information.— (1) Any person, being— (a)   a local authority or other public body or association; or (b)   any authority of the State Government responsible for the collection of value

Amendment of section 2 In the Customs Act, 1962 (52 of 1962) (hereinafter referred to as the Customs Act), in section 2, in clause (11), after the words “the area of a Customs station”, the words “or a warehouse” shall be inserted. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing

Short title and commencement 1. (1) This Act may be called the Taxation Laws (Amendment) Act, 2017. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such