Clause 113 - Amendment of section 2 - FINANCE BILL, 2016

CHAPTER IV

INDIRECT TAXES

Customs

Amendment of section 2

113. In the Customs Act, 1962 (52 of 1962) (hereinafter referred to as the Customs Act), in section 2,––

(i) for clause (43), the following clause shall be substituted, namely:––

‘(43) “warehouse” means a public warehouse licensed under section 57 or a private warehouse licensed under section 58 or a special warehouse licensed under section 58A;’;

(ii) clause (45) shall be omitted.

 

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Notes on Clauses:

Clause 113 of the Bill seeks to amend section 2 of the Customs Act so as to––

(i) substitute clause (43) thereof to redefine the expression “warehouse”;

(ii) omit clause (45).