Section 40 - Power to exempt feature films, etc., from payment of excise duty - Finance (No. 2) Act, 1977

40. Power to exempt feature films, etc., from payment of excise duty (1) The Central Government may, by notification in the Official Gazette, exempt retrospectively from a date not earlier than the 18th day of June, 1977, subject to such conditions as may be specified in the notification, cinematograph films, exposed, falling under Item No. 37 in the First Schedule to the Central Excises Act, from the whole or any part of the duty leviable thereon under that Act. (2) The provisions of the Central Excises Act and the rules made thereunder shall apply in relation to any notification issued under sub-section (1) as they apply in relation to any notification issued under rule 8 of the said rules.