Removal of Budget Day restrictions for Budget 2003-04

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..... between the time appointed for the presentation of the Annual Budget (or any Supplementary Budget) and 12 midnight on the same day. Thus, there is now no provision to impose Budget restrictions. 2. Historically, Budget Day restrictions were aimed at preventing duty evasion as the duty was required to be paid before the removal of the excisable goods and the duty rates were normally enhanced. How .....

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..... rate, there shall be no Budget Day restrictions this year. The net effect shall be that as on any other day, on the Budget Day i.e. 28th February, 2003 also, the assessees shall be free to carry out their activities without seeking special permission from the Department. At the same time it is expected that normal anti-evasion activities by the field formations would ensure against misuse of the r .....

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