Section 6 – Amendment Acts – CENTRAL EXCISE – TAXATION LAWS (AMENDMENT) Act, 2017 – Section 6 – Substitution of new section for section 3. 6. In the Central Excise Act, for section 3, the following section shall be substituted, namely:- Duty specified in the Fourth Schedule to be levied "3. (1) There shall be levied and collected in such manner as may be prescribed a duty of excise to be called the Central Value Added Tax (CENVAT) on all excisable goods (excluding goods produced or manufactured in special economic zones) which are produced or manufactured in India as, and at the rates, set forth in the Fourth Schedule: Provided that the duty of excise which shall be levied and collected on any excisable goods which are produced or man
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
iable for the time being in force is leviable at different rates, then, such duty shall, for the purposes of this proviso, be deemed to be leviable at the highest of those rates. Explanation 2.-For the purposes of this sub-section,- (i)"hundred per cent. export-oriented undertaking" means an undertaking which has been approved as a hundred per cent. export-oriented undertaking by the Board appointed in this behalf by the Central Government in exercise of the powers conferred by section 14 of the Industries (Development and Regulation) Act, 1951, (65 of 1951) and the rules made under that Act; (ii) "Special Economic Zone" shall have the meaning assigned to it in clause (za) of section 2 of the Special Economic Zones Act,
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =