Notification commencement: notifications now take effect on the date of issue, and limitation periods and schedule entries are revised. The Bill amends the Central Excise Act to make notifications presumptively effective on the date of issue in the Official Gazette, extends the limitation period for non-fraud assessments, empowers the Board to issue implementation directions for any provision of the Act, and revises and harmonises Third Schedule tariff entries and duty rates with the Harmonised System of Nomenclature.
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Notification commencement: notifications now take effect on the date of issue, and limitation periods and schedule entries are revised.
The Bill amends the Central Excise Act to make notifications presumptively effective on the date of issue in the Official Gazette, extends the limitation period for non-fraud assessments, empowers the Board to issue implementation directions for any provision of the Act, and revises and harmonises Third Schedule tariff entries and duty rates with the Harmonised System of Nomenclature.
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