Clause 238 - Collection and payment of arrears of duties - Finance Bill, 2016

Collection and payment of arrears of duties 238. Notwithstanding the repeal or amendment of the enactments specified in the Fifteenth Schedule, the proceeds of duties levied under the said enactments immediately preceding the date on which the Finance Bill, 2016 receives the assent of the President,- (i) if collected by the collecting agencies but not paid into the Reserve Bank of India; or (ii) if not collected by the collecting agencies, shall be paid or as the case may be, collected and paid into the Reserve Bank of India for being credited to the Consolidated Fund of India. Declaration under the Provisional Collection of Taxes Act, 1931 It is hereby declared that it is expedient in the public interest that the provisions of clauses 138(i), 142(i), 143(i), 159, 231 and 232 of this Bill shall have immediate effect under the Provisional Collection of Taxes Act, 1931 (16 of 1931).