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of <h1>Section 109 of the Finance Act, 2018 mandates collection and payment of duty arrears to the Reserve Bank of India.</h1> Section 109 of the Finance Act, 2018 addresses the collection and payment of arrears of duties following the repeal of certain enactments specified in the Fifth Schedule. It mandates that any duties levied under these repealed enactments, which were either collected but not yet deposited into the Reserve Bank of India or not collected by the agencies, must be paid or collected and paid into the Reserve Bank of India. These proceeds are to be credited to the Consolidated Fund of India, ensuring proper financial management despite the legislative changes.
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