Amendment in Sec.37 (4) & (5)

[Admin TMI]

Question - What are proposed amendment in Section 37 (4) and (5) in Central Excise Act ,1944 in Finance Bill 2015 ?

AI Summary

Penalty Hike Proposed: Finance Bill 2015 Seeks to Amend Section 37, Raising Fines from 2000 to 5000. Sub-sections (4) and (5) of Section 37 in the Central Excise Act, 1944, are proposed to be amended in the Finance Bill 2015 to increase the penalty amount from 2000 to 5000.