Amendment of Chapter Notes to Chapter 54 of First Schedule

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..... f June, 2010, namely:-- "1A. Notwithstanding anything contained in Note 1, man-made fibre such as polyester staple fibre and polyester filament yarn manufactured from plastic and plastic waste including waste polyethylene terephthalate bottles shall be classified as textile material under Chapter 54 or Chapter 55, as the case may be.". (2) Any action taken or anything done or purported to have .....

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..... de by sub-section (1) had been in force at all material times; (b) recovery shall be made of all the duties which have not been paid, but would have been paid had the amendments made by sub-section (1) been in force, within a period of thirty days from the date on which the Finance Bill, 2012 receives the assent of the President and in the event of nonpayment of such duties of excise within the .....

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..... e been so punishable had this section not come into force.". - Clause 142 of the Bill seeks to insert a new Chapter Note 1A in Chapter 54 of the Central Excise Tariff Act so as to provide that notwithstanding anything contained in Note 1, man-made fibre such as polyester staple fibre and polyester filament yarn manufactured from plastic and plastic waste including waste polyethylene terephthala .....

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