Central Value Added Tax designation expands excise duty definition and clarifies customs duty reference and rate selection. Amendment renames the duty in section 3(1)(a) as Central Value Added Tax (CENVAT). The proviso's limited reference to section 12 of the Customs Act is expanded to the Customs Act or any other law for the time being in force, and Explanation 1 is replaced to deem, for the proviso's purposes, customs duty on like goods payable at the highest of differing rates; both substitutions are made retrospective to the stated date.
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Provisions expressly mentioned in the judgment/order text.
Central Value Added Tax designation expands excise duty definition and clarifies customs duty reference and rate selection.
Amendment renames the duty in section 3(1)(a) as Central Value Added Tax (CENVAT). The proviso's limited reference to section 12 of the Customs Act is expanded to the Customs Act or any other law for the time being in force, and Explanation 1 is replaced to deem, for the proviso's purposes, customs duty on like goods payable at the highest of differing rates; both substitutions are made retrospective to the stated date.
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