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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Taxation Laws Grant Emergency Powers to Increase Excise Duty; Sections 3B and 3C Introduced for Public Interest Amendments.</h1> The Taxation Laws (Amendment) Act, 2017 introduces sections 3B and 3C to the Central Excise Act. Section 3B grants the Central Government emergency powers to increase excise duty on goods by amending the Fourth Schedule through a notification, subject to parliamentary approval. The rate increase can be up to 50% ad valorem if previously nil, or double the existing rate. Section 3C allows the government to amend the Fourth Schedule in public interest without altering the specified excise duty rates. Notifications under these sections require parliamentary review and can be rescinded by the government.
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