https://www.taxtmi.com/news?id=27064 The Act allows the Central Government to declare in a government Bill that provisions imposing or increasing customs or excise duties shall have immediate effect; such declared provisions take effect at the end of the day the Bill is introduced and cease upon enactment, parliamentary cessation by notification after a motion, or after seventy-five days. Where declared provisions are enacted in amended form or cease under the Act, refunds are required for duties that would not have been collected absent the declaration, subject to a cap tied to the difference between the declared rate and the pre-introduction rate. en-us Thu, 14 Dec 2023 11:00:40 +0530 Thu, 14 Dec 2023 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27064 The Act allows the Central Government to declare in a government Bill that provisions imposing or increasing customs or excise duties shall have immediate effect; such declared provisions take effect at the end of the day the Bill is introduced and cease upon enactment, parliamentary cessation by notification after a motion, or after seventy-five days. Where declared provisions are enacted in amended form or cease under the Act, refunds are required for duties that would not have been collected absent the declaration, subject to a cap tied to the difference between the declared rate and the pre-introduction rate. News - Thu, 14 Dec 2023 11:00:40 +0530 https://www.taxtmi.com/news?id=27064