Notes-04 - Notes on clauses-Central Excise - Finance Bill, 2016

Excise Clause 139 of the Bill seeks to amend section 5A of the Central Excise Act so as to substitute sub-section (5) to provide that every notification issued under sub-section (1) or sub-section (2A) shall, unless otherwise provided, come into force on the date of its issue by the Central Government for publication in the Official Gazette. It is further proposed to omit sub-section (6) thereof. Clause 140 seeks to amend section 11A of the Central Excise Act, to substitute the words two years for the words one year wherever they occur so as to increase the period of limitation in cases not involving fraud, suppression, etc. Clause 141 seeks to amend section 37B of the Central Excise Act, to insert the words or for the implementation of any other provision of this Act in section 37B so as to empower the Board to issue orders, instructions and directions for the implementation of any other provision of the said Act. Clause 142 of the Bill seeks to amend the Third Schedule to the Central Excise Act. Sub-clause (i) thereof seeks to amend the Third Schedule in the manner specified in the Fifth Schedule so as to insert and amend certain entries therein and to revise the rate of duty on certain items. Sub-clause (ii) thereof seeks to amend the Third Schedule in the manner specified in the Sixth Schedule so as to harmonise the entries therein, with the Harmonised System of Nomenclature with effect from the 1st day of January, 2017.