Section 110 - Amendment of Act 51 of 1975 - Finance Act, 1992

110. Amendment of Act 51 of 1975 In the Customs Tariff Act, 1975 (hereinafter referred to as the Customs Tariff Act),- (a) after section 8, the following section shall be inserted, namely:- 8A. Emergency power of Central Government to increase import duties.- (1) Where in respect of any article included in the First Schedule, the Central Government is satisfied that the import duty leviable thereon under section 12 of the Customs Act, 1962 (52 of 1962) should be increased and that circumstances exist which render it necessary to take immediate action, it may by notification in the Official Gazette, direct an amendment of that Schedule to be made so as to provide for an increase in the import duty leviable on such article to such extent as it thinks necessary: Provided that the Central Government shall not issue any notification under this sub-section for substituting the rate of import duty in respect of any article as specified by an earlier notification issued under this sub-section by that Government before such earlier notification has been approved with or without modifications under sub-section (2). (2) The provisions of sub-sections (3) and (4) of section 7 shall apply to any notification issued under sub-section (2) as they apply in relation to any notification increasing duty issued under sub-section (2) of section 7. ; (b) the First, and Second Schedules shall be amended in the manner specified in the Second Schedule.