Amendment in Sec.3A (3)

[Admin TMI]

Question - What are amendment proposed in Sec.3A (3) of Central Excise Act, 1944 in Finance Bill 2015 ?

AI Summary

Amendment to Section 3A(3) of Central Excise Act 1944 allows multiple factors for excise duty assessment. A query was raised regarding the proposed amendment to Section 3A(3) of the Central Excise Act, 1944, as outlined in the Finance Bill 2015. The amendment involves inserting an Explanation to clarify that the factors relevant to production include multiple factors, allowing the Central Government to specify more than one factor for determining excise duty based on production capacity for notified goods. This change aims to provide greater flexibility in assessing excise duty by considering various relevant production factors.