201602.29
0
0

Changes in Central Excise Act,1944, In Budget 2016-2017

The Union Budget 2016-2017 has brought the following Changes  in Central Excise Act, 1944 :

a. Section 5A being amended, so as to omit the requirement of publishing and offering for sale on the date of issue, by the Directorate of Publicity and Public Relations of CBEC, of notifications issued for publication in the Official Gazette.

b. Section 11A of the Central Excise Act, 1944 being amended so as to increase the limitation period from one to two years in cases not involving fraud, suppression, etc.

c.Section 37B of the Central Excise Act, 1944 being amended so as to empower the Board for implementation of any other provision of the said Act in addition to the power to issue orders, instructions and directions.

d. The Third Schedule to the Central Excise Act, 1944 being amended so as to include therein:

1) All goods falling under heading 3401 and 3402;

2) Aluminium foils of a thickness not exceeding 0.2 mm;

3) Wrist wearable devices (commonly known as ‘smart watches’); and

4) Accessories of motor vehicle and certain other specified goods.

Leave a Reply

Your email address will not be published. Required fields are marked *

Current day month ye@r *