ministry of law and justice

On 29-12-2023, the President has given an assent to Provisional Collection of Taxes Act, 2023 repealing the Provisional Collection of Taxes Act, 1931.

Key Points:

  1. In case where a Bill has to be introduced in the Parliament for imposition or increase of a duty of customs or excise with or without any change in tariff classification, Central Government can insert a declaration making such provision of the Bill relating to imposition or increase come into force with immediate effect.
  2. Effect of Declaration:

    • The declared provision will come into effect on the expiry of the day on which such Bill is introduced.
    • Cases when a declared provision will cease to have effect:

      • When it comes into operation as an enactment, with or without amendment;
      • When a motion is passed in the Parliament, the Central Government can direct to cease the declared provision;
      • On the expiry of 75th day on which such Bill containing the declared provision was introduced.
  3. In case where a declared provision comes into operation as an enactment in an amended form before the expiry of 75th day of introduction of Bill-
    • Refunds will be made of all duties collected which would not have been collected if the provision adopted in the enactment had been the declared provision, on the rate not exceeding the difference between the rate duty proposed in the declared provision and the rate of such duty in force when the Bill was introduced.
  4. In the event where the Central Government ceases the declared provision to be in force or such provision is ceased on the expiry of 75th day then the refunds will be of all the duties collected as if no declared provision was made.

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