Excise
Amendment of section 32-O.
66. In section 32-O of the Central Excise Act,—
(a) in sub-section (1),—
(i) the words, figures and letters "before the 1st day of June, 2007" shall be omitted;
(ii) in clause (i), after the words, brackets, figures and letter "sub-section (7) of section 32F", the words, figures, brackets and letter ", as it stood immediately before the commencement of section 122 of the Finance Act, 2007[22 of 2007.] or sub-section (5) of section 32F," shall be inserted;
(iii) in clause (ii), after the words, brackets and figure "sub-section (7)", the words, figures, brackets and letter ", as it stood immediately before the commencement of section 122 of the Finance Act, 2007[22 of 2007.] or sub-section (5) of section 32F," shall be inserted;
(b) sub-section (2) shall be omitted.
Notes on Clauses:
Clause 66 of the Bill seeks to amend section 32-O of the Central Excise Act with a view to make certain amendments in sub-section (1) and to omit sub-section (2) to provide that the assessee shall be entitled to apply for settlement in any matter before the Settlement Commission except in the circumstances specified therein.
