Deeming clause reclassifies central excise schedule references, making the amendment effective on enactment. Clause 156 creates a deeming clause treating section 73(b) of the Finance Act, 2011 as if inserted as section 70A under the heading Excise and substitutes ... Summary
Deeming clause reclassifies central excise schedule references, making the amendment effective on enactment.
Clause 156 creates a deeming clause treating section 73(b) of the Finance Act, 2011 as if inserted as section 70A under the heading Excise and substitutes the Twelfth Schedule wording so references to the Third Schedule align with the Central Excise Act; the amendment takes effect on assent and selected clauses are declared immediately effective under the Provisional Collection of Taxes Act.
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