Penalty increases under Finance Act amendment raise prescribed fines upon Central Government notification becoming effective. Amendment increases prescribed monetary penalties by substituting higher fixed sums in the first and second specified clauses of the Finance Act provision; both substitutions take effect from a date the Central Government appoints by notification in the Official Gazette, making the changes contingent on formal notification before operation.
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Penalty increases under Finance Act amendment raise prescribed fines upon Central Government notification becoming effective.
Amendment increases prescribed monetary penalties by substituting higher fixed sums in the first and second specified clauses of the Finance Act provision; both substitutions take effect from a date the Central Government appoints by notification in the Official Gazette, making the changes contingent on formal notification before operation.
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