Repeal and savings preserve pre-existing tax liabilities and ongoing proceedings despite repeal of specified state tax laws. Section 174 repeals specified state tax statutes on commencement and preserves pre-existing rights, privileges, obligations, liabilities, taxes, ... Summary
Repeal and savings preserve pre-existing tax liabilities and ongoing proceedings despite repeal of specified state tax laws.
Section 174 repeals specified state tax statutes on commencement and preserves pre-existing rights, privileges, obligations, liabilities, taxes, surcharges, penalties, fines, interest, forfeitures and punishments. Tax exemptions by notification cease as privileges if rescinded on or after the appointed day. Investigations, verifications, assessments, adjudications, recovery of arrears and legal proceedings, including appeals and revisions, may be instituted, continued or enforced as if the repealed or amended Acts remained in force. The section also affirms the application of general repeal principles under the Assam General Clauses Act.
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