Clause 96 - Amendment of Fourth Schedule. - FINANCE BILL, 2021

Excise

Amendment of Fourth Schedule.

96. In the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the Central Excise Act), the Fourth Schedule shall,––

(i) with effect from the 1st April, 2021, be amended in the manner specified in the Fifth Schedule; and

(ii) with effect from the 1st January, 2022, be also amended in the manner specified in the Sixth Schedule.

 

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Notes on Clauses:

Clause 96 of the Bill seeks to amend the Fourth Schedule to the Central Excise Act.

Sub-clause (i) of the said clause seeks to revise the heading, tariff items and entries falling under the heading 2709 of Chapter 27 thereof, with effect from the 1st April, 2021 in the manner specified in the Fifth Schedule;

Sub-clause (ii) of the said clause seeks to amend Section heading of SECTION IV and certain entries of Chapter 24 thereof, with effect from the 1st January, 2022 in the manner specified in the Sixth Schedule.