Amendment to section 28AA excludes its operation where duty or interest becomes payable on or after Finance Bill assent.

Amendment renames the existing provision as sub-section (1) and inserts a sub-section (2) stating that sub-section (1) shall not apply to cases where duty or interest becomes payable or ought to be paid on or after the date the Finance Bill receives the President's assent, thereby limiting the temporal reach of section 28AA and confirming its non applicability from the assent effective date.

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