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Notes on clauses-Miscellaneous

Notes-13 - Notes on clauses - Bill - Notes-13 - Miscellaneous Clause 221 of the Bill seeks to amend section 3 of the Central Sales Tax Act, 1956 so as to insert an Explanation 3 therein to provide that where the gas sold or purchased and transported through a common carrier pipeline or any other common transport or distribution system becomes co-mingled and fungible with other gas in the pipeline or system and such gas is introduced into the pipeline or system in one State and is taken out from .....

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Act, 1976. The aforesaid sections, inter alia, provides for establishment of Appellate Tribunal for hearing appeals against the orders made under the aforesaid Act. Clause 224 of the Bill seeks to amend sections 68B, 68N and section 76 of the Narcotic Drugs and Psychotropic Substances Act, 1985. The aforesaid sections, inter alia, provides for establishment of Appellate Tribunal for hearing appeals against the orders made under the aforesaid Act. It is proposed to amend the aforesaid sections s .....

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section 10 of the Central Road Fund Act relating to functions of the Central Government. The aforesaid section, inter alia, provides for distribution of cess collected under the said Act, among various projects. It is proposed to substitute clause (viii) of sub-section (1) of the aforesaid section so as to provide for redistribution of the cess for different purposes. It is further proposed to provide that no repair, maintenance or renovation work shall be carried out from the allocation of cess .....

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) in the manner specified in the Thirteenth Schedule to harmonise it with the proposed amendments in the First Schedule to the Central Excise Tariff Act, 1985. The amendment shall come into force on the 1st day of January, 2017. Clause 229 seeks to amend the prevention of Money- Laundering Act, 2002. It is proposed to amend the aforesaid Act so as to confer powers upon the Appellate Tribunal established under the said Act to hear appeals against orders made under the Narcotic Drugs and Psychotro .....

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er cent. to 0.05 per cent. It is also proposed to amend the section 113A so as to provide that the provisions of Chapter VII shall also not apply to taxable securities transactions entered into by any person for on a recognised stock exchange located in an International Financial Services Centre referred to in clause (q) of section 2 of the Special Economic Zones Act, 2005. This amendment will take effect from 1st June, 2016. Clause 231 of the Bill seeks to amend the Seventh Schedule to the Fina .....

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33 of the Bill seek to amend the Foreign Contribution (Regulation) Act, 2010 so as to insert a proviso in sub-clause (vi) of clause (j) of sub-section (1) of section 2 of the said Act providing therein that notwithstanding the nominal value of share capital of a company exceeding one-half per cent. at the time of making contributions such company shall not be deemed to be a foreign source, if the foreign investment is within the limit specified under the Foreign Exchange Management Act, 1999 or .....

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