MINISTRY OF LAW AND JUSTICE
(Legislative Department)

New Delhi, the 28th May, 2012/Jyaistha 7, 1934 (Saka)

The following Act of Parliament received the assent of the President on the 28th May, 2012 and is hereby published for general information.

THE FINANCE ACT, 2012

NO. 23 OF 2012

An Act to give effect to the financial proposals of the Central Government for the financial year 2012-2013.

BE it enacted by Parliament in the Sixty-third Year of the Republic of India as follows : –

CHAPTER I

Preliminary

Short title and commencement.

1.(1) This Act may be called the Finance Act, 2012.

(2) Save as otherwise provided in this Act, sections 2 to 118 shall be deemed to have come into force on the 1st day of April, 2012.

CHAPTER IV

INDIRECT TAXES

CUSTOMS

Amendment of section 2.

120. In the Customs Act, 1962 (hereinafter referred to as the Customs Act), in section 2, in clause (10), after the words “to be a customs airport”, the words, brackets and letters “and includes a place appointed under clause (aa) of that section to be an air freight station” shall be inserted. (52 of 1962.)

Amendment of section 7.

121. In section 7 of the Customs Act, in sub-section (1), in clause (aa), for the words “container depots”, the words “container depots or air freight stations” shall be substituted.

Insertion of new section 28AAA.

122. After section 28AA of the Customs Act, the following section shall be inserted, namely:-

Recovery of duties in certain cases.

’28AAA. (1) Where an instrument issued to a person has been obtained by him by means of-

(a) collusion; or

(b) wilful misstatement; or

(c) suppression of facts,

for the purposes of this Act or the Foreign Trade (Development and Regulation) Act, 1992, by such person or his agent or employee and such instrument is utilised under the provisions of this Act or the rules made or notifications issued thereunder, by a person other than the person to whom the instrument was issued, the duty relatable to such utilisation of instrument shall be deemed never to have been exempted or debited and such duty shall be recovered from the person to whom the said instrument was issued: (22 of 1992.)

Provided that the action relating to recovery of duty under this section against the person to whom the instrument was issued shall be without prejudice to an action against the importer under section 28.

Explanation 1.- For the purposes of this sub-section, “instrument” means any scrip or authorisation or licence or certificate or such other document, by whatever name called, issued under the Foreign Trade (Development and Regulation) Act, 1992, with respect to a reward or incentive scheme or duty exemption scheme or duty remission scheme or such other scheme bestowing financial or fiscal benefits, which may be utilised under the provisions of this Act or the rules made or notifications issued thereunder. (22 of 1992.)

Explanation 2. – The provisions of this sub-section shall apply to any utilisation of instrument so obtained by the person referred to in this sub-section on or after the date on which the Finance Bill, 2012 receives the assent of the President, whether or not such instrument is issued to him prior to the date of the assent.

(2) Where the duty becomes recoverable in accordance with the provisions of sub-section (1), the person from whom such duty is to be recovered, shall, in addition to such duty, be liable to pay interest at the rate fixed by the Central Government under section 28 AA and the amount of such interest shall be calculated for the period beginning from the date of utilisation of the instrument till the date of recovery of such duty.

(3) For the purposes of recovery under sub-section (2), the proper officer shall serve notice on the person to whom the instrument was issued requiring him to show cause, within a period of thirty days from the date of receipt of the notice, as to why the amount specified in the notice (excluding the interest) should not be recovered from him, and after giving that person an opportunity of being heard, and after considering the representation, if any, made by such person, determine the amount of duty or interest or both to be recovered from such person, not being in excess of the amount specified in the notice, and pass order to recover the amount of duty or interest or both and the person to whom the instrument was issued shall repay the amount so specified in the notice within a period of thirty days from the date of receipt of the said order, along with the interest due on such amount, whether or not the amount of interest is specified separately.

(4) Where an order determining the duty has been passed under section 28, no order to recover that duty shall be passed under this section.

(5) Where the person referred to in sub-section (3) fails to repay the amount within the period of thirty days specified therein, it shall be recovered in the manner laid down in sub-section (1) of section 142.’.

Amendment of section 28BA.

123. In section 28BA of the Customs Act, in sub-section (1),-

(a) for the words, figures and letter “or section 28B”, the words, figures and letters “or section 28AAA or section 28B” shall be substituted;

(b) for the words, brackets, figures and letter “or sub-section (2) of section 28B”, the words, brackets, figures and letters ‘or sub-section (3) of section 28AAA or sub-section (2) of section 28B” shall be substituted.

Amendment of section 47.

124. In section 47 of the Customs Act, in sub-section (2),-

(a) in the first proviso, for the words “Provided that”, the following shall be substituted, namely:-

“Provided that the Central Government may, by notification in the Official Gazette, specify the class or classes of importers who shall pay such duty electronically:

Provided further that”;

(b) in the second proviso, for the words “Provided further that”, the words “Provided also that” shall be substituted.

Amendment of section 75A.

125. In section 75A of the Customs Act, in sub-section (2), for the word, figures and letters “section 28AB”, the word, figures and letters “section 28AA” shall be substituted and shall be deemed to have been substituted with effect from the 8th day of April, 2011.

Amendment of section 104.

126. In section 104 of the Customs Act, for sub-sections (4), the following sub-sections shall be substituted, namely:-

“(4) Notwithstanding anything contained in the Code of Criminal Procedure, 1973, any offence relating to – 2 to 1974.

(a) prohibited goods; or

(b) evasion or attempted evasion of duty exceeding fifty lakh repees, shall be cognizable.

(5) Save as otherwise provided in sub-section (4), all other offences under the Act shall be Non-cognizable.

(6) Notwithstanding anything contained in the Code of Criminal Procedure, 1973, the offences under the Act shall be bailable.”. (2 of 1974.)

Amendment of section 122.

127. In section 122 of the Customs Act,-

(i) in clause (b), for the words “two lakh”, the words “five lakh” shall be substituted;

(ii) in clause (c), for the words “ten thousand”, the words “fifty thousand” shall be substituted.

Amendment of section 153.

128. In section 153 of the Customs Act, in clause (a), for the words “registered post to the person for whom it is intended or to his agent”, the words “registered post or by such courier as may be approved by the Commissioner of Customs” shall be substituted.

Special provisions exempting additional duty of customs on import of foreign-going vessels into India.

129. Notwithstanding anything contained in sub-section (1) of section 25 of the Customs Act, the item and its description specified under column (1) of the Second Schedule, falling under Chapter 89 of the First Schedule to the Customs Tariff Act, 1975, shall be and shall be deemed to have been exempted from the whole of the additional duty of customs leviable thereon under sub-section (1) of section 3 of the said Customs Tariff Act, on and from and up to the corresponding date specified in column (2) thereof. (51 of 1975.)

Customs Tariff

Amendment of section 8C.

130. In the Customs Tariff Act, 1975 (hereinafter referred to as the Customs Tariff Act), in section 8C, in sub-section (5), for the proviso, the following proviso shall be substituted, namely:- (51 of 1975.)

“Provided that if the Central Government is of the opinion that such article continues to be imported into India from the People’s Republic of China so as to cause or threatening to cause market disruption to domestic industry, the Central Government may, notwithstanding the measures taken by the domestic industry towards adjustment to such market disruption or any threat arising thereof, if considers necessary that such duty should continue, extend the period of imposition of such safeguard duty for a period not beyond the period of ten years from the date on which the safeguard duty was first imposed.”.

Amendment of First Schedule.

131. The First Schedule to the Customs Tariff Act shall be amended in the manner specified in the Third Schedule.

Amendment of Second Schedule

132. The Second Schedule to the Customs Tariff Act shall be amended in the manner specified in the Fourth Schedule.

Excise

Amendment of section 4.

133.. In the Central Excise Act, 1944 (hereinafter referred to as the Central Excise Act), in section 4, in sub-section (3), in clause (b), in the Explanation, for clause (i), the following clause shall be substituted, namely:- (1 of 1944.)

‘(i) “inter-connected undertakings” means two or more undertakings which are inter-connected with each other in any of the following manners, namely:-

(A) if one owns or controls the other;

(B) where the undertakings are owned by firms, if such firms have one or more common partners;

(C) where the undertakings are owned by bodies corporate,-

(I) if one body corporate manages the other body corporate; or

(II) if one body corporate is a subsidiary of the other body corporate; or

(III) if the bodies corporate are under the same management; or

(IV) if one body corporate exercises control over the other body corporate in any other manner;

(D) where one undertaking is owned by a body corporate and the other is owned by a firm, if one or more partners of the firm,-

(I) hold, directly or indirectly, not less than fifty per cent, of the shares, whether preference or equity, of the body corporate; or

(II) exercise control, directly or indirectly, whether as director or otherwise, over the body corporate;

(E) if one is owned by a body corporate and the other is owned by a firm having bodies corporate as its partners, if such bodies corporate are under the same management;

(F) if the undertakings are owned or controlled by the same person or by the same group;

(G) if one is connected with the other either directly or through any number of undertakings which are inter-connected undertakings within the meaning of one or more of the foregoing sub-clauses.

Explanation 1.– For the purposes of this clause, two bodies corporate shall be deemed to be under the same management,-

(i) if one such body corporate exercises control over the other or both are under the control of the same group or any of the constituents of the same group; or

(ii) if the managing director or manager of one such body corporate is the managing director or manager of the other; or

(iii) if one such body corporate holds not less than one-fourth of the equity shares in the other or controls the composition of not less than one-fourth of the total membership of the Board of directors of the other; or

(iv) if one or more directors of one such body corporate constitute, or at any time within a period of six months immediately preceding the day when the question arises as to whether such bodies corporate are under the same management, constituted (whether independently or together with relatives of such directors or employees of the first mentioned body corporate) one-fourth of the directors of the other; or

(v) if the same individual or individuals belonging to a group, while holding (whether by themselves or together with their relatives) not less than one-fourth of the equity shares in one such body corporate also hold (whether by themselves or together with their relatives) not less than one-fourth of the equity shares in the other; or

(vi) if the same body corporate or bodies corporate belonging to a group, holding, whether independently or along with its or their subsidiary or subsidiaries, not less than one-fourth of the equity shares in one body corporate, also hold not less than one-fourth of the equity shares in the other; or

(vii) if not less than one-fourth of the total voting power in relation to each of the two bodies corporate is exercised or controlled by the same individual (whether independently or together with his relatives) or the same body corporate (whether independently or together with its subsidiaries); or

(viii) if not less than one-fourth of the total voting power in relation to each of the two bodies corporate is exercised or controlled by the same individuals belonging to a group or by the same bodies corporate belonging to a group, or jointly by such individual or individuals and one or more of such bodies corporate; or

(ix) if the directors of one such body corporate are accustomed to act in accordance with the directions or instructions of one or more of the directors of the other, or if the directors of both the bodies corporate are accustomed to act in accordance with the directions or instructions of an individual, whether belonging to a group or not.

Explanation II.- If a group exercises control over a body corporate, that body corporate and every other body corporate, which is a constituent of, or controlled by, the group shall be deemed to be under the same management.

Explanation III.- If two or more bodies corporate under the same management hold, in the aggregate, not less than one-fourth equity share capital in any other body corporate, such other body corporate shall be deemed to be under the same management as the first mentioned bodies corporate.

Explanation IV – In determining whether or not two or more bodies corporate are under the same management, the shares held by financial institutions in such bodies corporate shall not be taken into account.

Illustration

Undertaking B is inter-connected with undertaking A and undertaking C is inter-connected with undertaking B. Undertaking C is inter-connected with undertaking A; if undertaking D is inter-connected with undertaking C, undertaking D will be inter-connected with undertaking B and consequently with undertaking A; and so on.

Explanation V.- For the purposes of this clause, “group” means a group of-

(i) two or more individuals, associations of individuals, firms, trusts, trustees or bodies corporate (excluding financial institutions), or any combination thereof, which exercises, or is established to be in a position to exercise, control, directly or indirectly, over any body corporate, firm or trust; or

(ii) associated persons.

Explanation VI.- For the purposes of this clause,-

(I) a group of persons who are able, directly or indirectly, to control the policy of a body corporate, firm or trust, without having a controlling interest in that body corporate, firm or trust, shall also be deemed to be in a position to exercise control over it;

(II) “associated persons”-

(a) in relation to a director of a body corporate, means-

(i) a relative of such director, and includes a firm in which such director or his relative is a partner;

(ii) any trust of which any such director or his relative is a trustee;

(iii) any company of which such director, whether independently or together with his relatives, constitutes one-fourth of its Board of directors;

(iv) any other body corporate, at any general meeting of which not less than one-fourth of the total number of directors of such other body corporate are appointed or controlled by the director of the first mentioned body corporate or his relative, whether acting singly or jointly;

(b) in relation to the partner of a firm, means a relative of such partner and includes any other partner of such firm; and

(c) in relation to the trustee of a trust, means any other trustee of such trust;

(III) where any person is an associated person in relation to another, the latter shall also be deemed to be an associated person in relation to the former;’.

Amendment of section 9.

134. In section 9 of the Central Excise Act, in sub-section (1), in clause (i), for the words “one lakh”, the words “thirty lakh” shall be substituted.

Amendment of section 11A.

135. In section 11A of the Central Excise Act,-

(a) in sub-section (5), for the words “has not been levied or paid or”, the words “has not been levied or paid or has been” shall be substituted;

(b) for sub-section (8), the following sub-section shall be substituted, namely:-

“(8) Where the service of notice is stayed by an order of a court or tribunal, the period of such stay shall be excluded in computing the period of one year referred to in clause (a) of sub-section (1) or five years referred to in sub-section (4) or sub-section (5), as the case may be.”.

Amendment of section 11AC.

136. In section 11AC of the Central Excise Act, in sub-section (1),-

(i) in clauses (a) and (b), for the words “has not been levied or paid or”, the words “has not been levied or paid or has been” shall respectively be substituted;

(ii) in clause (c), for the words “duty so determined”, the words “duty so determined only in a case where the penalty is paid within the period so specified” shall be substituted.

Amendment of section 12F.

137. in section 12F of the Central Excise Act, for sub-section (2), the following sub-section shall be substituted, namely:-

‘(2) The provisions of the Code of Criminal Procedure, 1973 relating to search and seizure shall, so far as may be, apply to search and seizure under this section subject to the modification that sub-section (5) of section 165 of the said Code shall have effect as if for the word “Magistrate”, wherever it occurs, the words “Commissioner of Central Excise” were substituted.’. (2 of 1974.)

Amendment of notification issued under section 5A of Central Excise Act.

138. (1) The notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 62 (E), dated the 6th February, 2010 and G.S.R. 163(E), dated the 17th March, 2012 (hereinafter referred to as the said notification), issued under sub-section (1) of section 5A of the Central Excise Act, 1944, shall stand amended and shall be deemed to have been amended retrospectively, in the manner specified in column (2) of the Fifth Schedule, on and from the corresponding date specified in column (3) of that Schedule, against the said notification specified in column (1) of that Schedule. (1 of 1944.)

(2) For the purposes of sub-section (1), the Central Government shall have and shall be deemed to have the power to amend the said notifications with retrospective effect as if the Central Government had the power to amend the said notification under sub-section (1) of section 5A of the Central Excise Act, 1944, retrospectively, at all material times. (1 of 1944.)

Explanation.- For the removal of doubts, it is hereby declared that no act or omission on the part of any person shall be punishable as an offence which would not have been so punishable had the said notification not been amended retrospectively.

Amendment of notification number G.S.R. 254(E) issued under section 5A of Central Excise Act.

139. (i) In the notification of the Government of India in the Ministry fo Finance (Department of Revenue) nuber G.S.R 254(E) dated: 16th March 1995, issued under sub-section (1) of section 5A of the Central Excise Act, 1944 read with sub-section (3) of Section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957, in the TABLE, after S.No. 19 and the entries relating thereto, the following S.no. and the entries shall be and shall be deemed to be inserted retrospectively with effect from the 20th day of April 2011, Namely:- ( 1of 1944, 58 of 1957.)

(1)

(2)

(3)

“20. All goods If the goods are, —
failing under (i) manufactured by a factory belonging to the
heading 8607 Central Government; and
(ii) intended for use by any Department of the
Central Government.”.

(2) For the purposes of sub-section (1), the Central Government shall have and shall be deemed to have the power to amend the notification referred to in sub-section (1) with retrospective effect as if the Central Government had the power to amend the said notification under sub-section (1) of section 5 A of the Central Excise Act, 1944 read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 retrospectively at all materirial times. (1 of 1944, 58 of 1957)

Amendment of third Sechdule

140. The Third Schedule to the Central Excise Act shall be amended in the manner specified in the Sixth Schedule.

Central Excise Tariff

Amendment of first Sechdule

141 . In the Central Excise Tariff Act, 1985 (hereinafter referred to as the Centra! Excise Tariff Act), the First Schedule shall be amended in the manner specified in the Seventh Schedule. (5 of 1986).

Amendment of chapter Notes to Chapter 54 of First Schedule

142. (1) In the First Schedule to the Central Excise Tariff Act, in Chapter 54, after Note 1, the following Note shall be inserted and shall be deemed to have been inserted with effect from the 29th day of 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 been taken or done for recovery of duty of excise at any time during the period commencing on and from the 29th day of June, 2010 and ending with the date on which the Finance Bill, 201 2 receives the assent of the President (hereafter in this section referred to as the “specified period”), shall be deemed to be, and always to have been, for all purposes, as validly and effectively taken or done as if the amendment made by sub-section (1) had been in force at all material times and, accordingly, notwithstanding any judgment, decree or order of any court, tribunal or other authority –

(a) all duties of excise levied, assessed or collected during the specified period on such goods shall be deemed to be and always to have been, as validly levied, assessed or collected as if the amendment made by sub-section (1) had been in force at ail 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 non-payment of such duties of excise within the said period, interest at the rate of twenty-four per cent, per annum on the amount of such duties in addition to the amount of duties to be recovered, shall be payable from the date immediately after the expiry of the said period of thirty days till the date of its payment;

(c) while computing the amount of duty to be recovered under clause (b), the assessee shall be entitled to take into account the CENVAT credit of duty paid on inputs, input services and capital goods, if any, under the CENVAT Credit Rules, 2004 which has not been availed by him for reason of such goods being treated as non-excisable or exempted goods.

Explanation.- For the removal of doubts, it is hereby declared that no act or omission on the part of any person shall be punishable as an offence which would not have been so punishable had this section not come into force

CHAPTER V

Service tax

Amendment of Act 32 of 1994.

143. In the Finance Act, 1994,-

(A) in section 65, after the Explanation occurring at the end of clause (121), the following proviso shall be inserted with effect from such date as the Central Government may, by notification, appoint, namely:-

“Provided that the provisions of this section shall not apply with effect from such date as the Central Government may, by notification, appoint.”;

(B) in section 65A, after sub-section (2), the following sub-section shall be inserted with effect from such date as the Central Government may, by notification, appoint, namely:-

“(3) The provisions of this section shall not apply with effect from such date as the Central Government may, by notification, appoint.”;

(C) after section 65A, the following section shall be inserted with effect from such date as the Central Government may, by notification, appoint, namely:-

Interpretations.

’65B. In this Chapter, unless the context otherwise requires,-

(1) “actionable claim” shall have the meaning assigned to it in section 3 of the Transfer of Property Act, 1882; (4 of 1882.)

(2) “advertisement” means any form of presentation for promotion of, or bringing awareness about, any event, idea, immovable property, person, service, goods or actionable claim through newspaper, television, radio or any other means but does not include any presentation made in person;

(3) “agriculture” means the cultivation of plants and rearing of all life-forms of animals, except the rearing of horses, for food, fibre, fuel, raw material or other similar products;

(4) “agricultural extension” means application of scientific research and knowledge to agricultural practices through farmer education or training;

(5) “agricultural produce” means any produce of agriculture on which either no further processing is done or such processing is done as is usually done by a cultivator or producer which does not alter its essential characteristics but makes it marketable for primary market;

(6) “Agriculture Produce Marketing Committee or Board” means any committee or board constituted under a State law for the time being in force for the purpose of regulating the marketing of agricultural produce;

(7) “aircraft” has the meaning assigned to it in clause (1) of section 2 of the Aircraft Act, 1934; (22 of 1934.)

(8) “airport” has the meaning assigned to it in clause (b) of section 2 of the Airports Authority of India Act, 1994; (55 of 1994.)

(9) “amusement facility” means a facility where fun or recreation is provided by means of rides, gaming devices or bowling alleys in amusement parks, amusement arcades, water parks, theme parks or such other places but does not include a place within such facility where other services are provided;

(10) “Appellate Tribunal” means the Customs, Excise and Service Tax Appellate Tribunal constituted under section 129 of the Customs Act, 1962; (52 of 1962.)

(11) “approved vocational education course” means,-

(i) a course run by an industrial training institute or an industrial training centre affiliated to the National Council for Vocational Training offering courses in designated trades notified under the Apprentices Act, 1961; or (52 of 1961.)

(ii) a Modular Employable Skill Course, approved by the National Council of Vocational Training, run by a person registered with the Directorate General of Employment and Training, Union Ministry of Labour and Employment; or

(iii) a course run by an institute affiliated to the National Skill Development Corporation set up by the Government of India;

(12) “assessee” means a person liable to pay tax and includes his agent;

(13) “associated enterprise” shall have the meaning assigned to it in section 92A of the Income-tax Act, 1961; (43 of 1961.)

(14) “authorised dealer of foreign exchange” shall have the meaning assigned to “authorised person” in clause (c) of section 2 of the Foreign Exchange Management Act, 1999; (42 of 1999.)

(15) “betting or gambling” means putting on stake something of value, particularly money, with consciousness of risk and hope of gain on the outcome of a game or a contest, whose result may be determined by chance or accident, or on the likelihood of anything occurring or not occurring;

(16) “Board” means the Central Board of Excise and Customs constituted under the Central Boards of Revenue Act, 1963; (54 of 1963.)

(17) “business entity” means any person ordinarily carrying out any activity relating to industry, commerce or any other business or profession;

(18) “Central Electricity Authority” means the authority constituted under section 3 of the Electricity (Supply) Act, 1948; (54 of 1948.)

(19) “Central Transmission Utility” shall have the meaning assigned to it in clause (10) of section 2 of the Electricity Act, 2003; (36 of 2003.)

(20) “courier agency” means any person engaged in the door-to-door transportation of time-sensitive documents, goods or articles utilising the services of a person, either directly or indirectly, to carry or accompany such documents, goods or articles;

(21) “customs station” shall have the meaning assigned to it in clause (13) of section 2 of the Customs Act, 1962; (52 of 1962.)

(22) “declared service” means any activity carried out by a person for another person for consideration and declared as such under section 66E;

(23) “electricity transmission or distribution utility” means the Central Electricity Authority; a State Electricity Board; the Central Transmission Utility or a State Transmission Utility notified under the Electricity Act, 2003; or a distribution or transmission licensee under the said Act, or any other entity entrusted with such function by the Central Government or, as the case may be, the State Government; (36 of 2003.)

(24) “entertainment event” means an event or a performance which is intended to provide; recreation, pastime, fun or enjoyment, by way of exhibition of cinematographic film, circus, concerts, sporting event, pageants, award functions, dance, musical or theatrical performances including drama, ballets or any such event or programme;

(25) “goods” means every kind of movable property other than actionable claim and money; and includes securities, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale;

(26) “goods transport agency” means any person who provides service in relation to transport of goods by road and issues consignment note, by whatever name called;

(27) “India” means,-

(a) the territory of the Union as referred to in clauses (2) and (3) of article 1 of the Constitution;

(b) its territorial waters, continental shelf, exclusive economic zone or any other maritime zone as defined in the Territorial Waters, Continental Shelf, Exclusive Economic Zone and other Maritime Zones Act, 1976; (80 of 1976.)

(c) the seabed and the subsoil underlying the territorial waters;

(d) the air space above its territory and territorial waters; and

(e) the installations, structures and vessels located in the continental shelf of India and the exclusive economic zone of India, for the purposes of prospecting or extraction or production of mineral oil and natural gas and supply thereof;

(28) “information technology software” means any representation of instructions, data, sound or image, including source code and object code, recorded in a machine readable form, and capable of being manipulated or providing interactivity to a user, by means of a computer or an automatic data processing machine or any other device or equipment;

(29) “inland waterway” means national waterways as defined in clause (h) of section 2 of the Inland Waterways Authority of India Act, 1985 or other waterway on any inland water, as defined in clause (b) of section 2 of the Inland Vessels Act, 1917; (82 of 1985.), (1 of 1917.)

(30) “interest” means interest payable in any manner in respect of any moneys borrowed or debt incurred (including a deposit, claim or other similar right or obligation) but does not include any service fee or other charge in respect of the moneys borrowed or debt incurred or in respect of any credit facility which has not been utilised;

(31) “local authority” means-

(a) a Panchayat as referred to in clause (d) of article 243 of the Constitution;

(b) a Municipality as referred to in clause (e) of article 243P of the Constitution;

(c) a Municipal Committee and a District Board, legally entitled to, or entrusted by the Government with, the control or management of a municipal or local fund; (41 of 2006.)

(d) a Cantonment Board as defined in section 3 of the Cantonments Act, 2006;

(e) a regional council or a district council constituted under the Sixth Schedule to the Constitution;

(f) a development board constituted under article 371 of the Constitution; or

(g) a regional council constituted under article 371A of the Constitution;

(32) “metered cab” means any contract carriage on which an automatic device, of the type and make approved under the relevant rules by the State Transport Authority, is fitted which indicates reading of the fare chargeable at any moment and that is charged accordingly under the conditions of its permit issued under the Motor Vehicles Act, 1988 and the rules made thereunder; (59 of 1988.)

(33) “money” means legal tender, cheque, promissory note, bill of exchange, letter of credit, draft, pay order, traveller cheque, money order, postal or electronic remittance or any such similar instrument but shall not include any currency that is held for its numismatic value;

(34) “negative list” means the services which are listed in section 66D;

(35) “non-taxable territory” means the territory which is outside the taxable territory;

(36) “notification” means notification published in the Official Gazette and the expressions “notify” and “notified” shall be construed accordingly;

(37) “person” includes,-

(i) an individual,

(ii) a Hindu undivided family,

(iii) a company,

(iv) a society,

(v) a limited liability partnership,

(vi) a firm,

(vii) an association of persons or body of individuals, whether incorporated or not,

(viii) Government,

(ix) a local authority, or

(x) every artificial juridical person, not falling within any of the preceding sub-clauses;

(38) “port” has the meaning assigned to it in clause (q) of section 2 of the Major Port Trusts Act, 1963 or in clause (4) of section 3 of the Indian Ports Act, 1908; (38 of 1963.), (15 of 1908.)

(39) “prescribed” means prescribed by rules made under this Chapter;

(40) “process amounting to manufacture or production of goods” means a process on which duties of excise are leviable under section 3 of the Central Excise Act, 1944 or any process amounting to manufacture of alcoholic liquors for human consumption, opium, Indian hemp and other narcotic drugs and narcotics on which duties of excise are leviable under any State Act for the time being in force; (1 of 1944.)

(41) “renting” means allowing, permitting or granting access, entry, occupation, use or any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar arrangements in respect of immovable property;

(42) “Reserve Bank of India” means the bank established under section 3 of the Reserve Bank of India Act, 1934; (2 of 1934.)

(43) “securities” has the meaning assigned to it in clause (h) of section 2 of the Securities Contract (Regulation) Act, 1956; (42 of 1956.)

(44) “service” means any activity carried out by a person for another for consideration, and includes a declared service, but shall not include-

(a) an activity which constitutes merely,-

(i) a transfer of title in goods or immovable property, by way of sale, gift or in any other manner; or

(ii) such transfer, delivery or supply of any goods which is deemed to be sale within the meaning of clause (29A) of article 366 of the Constitution; or

(iii) a transaction in money or actionable claim;

(b) a provision of service by an employee to the employer in the course of or in relation to his employment;

(c) fees taken in any Court or tribunal established under any law for the time being in force.

Explanation 1.– For the removal of doubts, it is hereby declared that nothing contained in this clause shall apply to,-

(A) the functions performed by the Members of Parliament, Members of State Legislative, Members of Panchayats, Members of Municipalities and Members of other local authorities who receive any consideration in performing the functions of that office as such member; or

(B) the duties performed by any person who holds any post in pursuance of the provisions of the Constitution in that capacity; or

(C) the duties performed by any person as a Chairperson or a Member or a Director in a body established by the Central Government or State Governments or local authority and who is not deemed as an employee before the commencement of this section.

Explanation 2.- For the purposes of this clause, transaction in money shall not include any any activity relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another form, currency or denomination for which a separate consideration is charged.

Explanation 3.- For the purposes of this Chapter,-

(a) an unincorporated association or a body of persons, as the case may be, and a member thereof shall be treated as distinct persons;

(b) an establishment of a person in the taxable territory and any of his other establishment in a non-taxable territory shall be treated as establishments of distinct persons.

Explanation 4.- A person carrying on a business through a branch or agency or representational office in any territory shall be treated as having an establishment in that territory;

(45) “Special Economic Zone” has the meaning assigned to it in clause (za) of section 2 of the Special Economic Zones Act, 2005; (28 of 2005.)

(46) “stage carriage” shall have the meaning assigned to it in clause (40) of section 2 of the Motor Vehicles Act, 1988; (59 of 1988.)

(47) “State Electricity Board” means the Board constituted under section 5 of the Electricity (Supply) Act, 1948; (54 of 1948.)

(48) “State Transmission Utility” shall have the meaning assigned to it in clause (67) of section 2 of the Electricity Act, 2003; (36 of 2003.)

(49) “support services” means infrastructural, operational, administrative, logistic, marketing or any other support of any kind comprising functions that entities carry out in ordinary course of operations themselves but may obtain as services by outsourcing from others for any reason whatsoever and shall include advertisement and promotion, construction or works contract, renting of immovable property, security, testing and analysis;

(50) “tax” means service tax leviable under the provisions of this Chapter;

(51) “taxable service” means any service on which service tax is leviable under section 66B;

(52) “taxable territory” means the territory to which the provisions of this Chapter apply;

(53) “vessel” has the meaning assigned to it in clause (z) of section 2 of the Major Port Trusts Act, 1963; (38 of 1963.)

(54) “works contract” means a contract wherein transfer of property in goods involved in the execution of such contract is leviable to tax as sale of goods and such contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, alteration of any movable or immovable property or for carrying out any other similar activity or a part thereof in relation to such propety;

(55) words and expressions used but not defined in this Chapter and defined in the Central Excise Act, 1944 or the rules made thereunder, shall apply, so far as may be, in relation to service tax as they apply in relation to a duty of excise.’. (1 of 1944.)

(D) in section 66, the following proviso shall be inserted with effect from such date as the Central Government may, by notification, appoint, namely:-

“Provided that the provisions of this section shall not apply with effect from such date as the Central Government may, by notification, appoint.”;

(E) in section 66A, after Explanation 2 occurring at the end of sub-section (2), the following subsection shall be inserted with effect from such date as the Central Government may, by notification, appoint, namely:-

“(3) The provisions of this section shall not apply with effect from such date as the Central Government may, by notification, appoint.”;

(F) after section 66A, the following sections shall be inserted with effect from such date as the Central Government may, by notification, appoint, namely:-

Charge of service tax on and after Finance Act, 2012.

’66B. There shall be levied a tax (hereinafter referred to as the service tax) at the rate of twelve per cent on the value of all services, other than those services specified in the negative list, provided or agreed to be provided in the taxable territory by one person to another and collected in such manner as may be prescribed.

Determination of place of provision of service.

66C.(1) The Central Government may, having regard to the nature and description of various services, by rules made in this regard, determine the place where such services are provided or deemed to have been provided or agreed to be provided or deemed to have been agreed to be provided.

(2) Any rule made under sub-section (1) shall not be invalid merely on the ground that either the service provider or the service receiver or both are located at a place being outside the taxable territory.

Negative list of services.

66D. The negative list shall comprise of the following services, namely:-

(a) services by Government or a local authority excluding the following services to the extent they are not covered elsewhere-

(i) services by the Department of Posts by way of speed post, express parcel post, life insurance and agency services provided to a person other than Government;

(ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport;

(iii) transport of goods or passengers; or

(iv) support services, other than services covered under clauses (i) to (iii) above, provided to business entities;

(b) services by the Reserve Bank of India;

(c) services by a foreign diplomatic mission located in India;

(d) services relating to agriculture or agricultural produce by way of-

(i) agricultural operations directly related to production of any agricultural produce including cultivation, harvesting, threshing, plant protection or seed testing;

(ii) supply of farm labour;

(iii) processes carried out at an agricultural farm including tending, pruning, cutting, harvesting, drying, cleaning, trimming, sun drying, fumigating, curing, sorting, grading, cooling or bulk packaging and such like operations which do not alter the essential characteristics of agricultural produce but make it only marketable for the primary market;

(iv) renting or leasing of agro machinery or vacant land with or without a structure incidental to its use;

(v) loading, unloading, packing, storage or warehousing of agricultural produce;

(vi) agricultural extension services;

(vii) services by any Agricultural Produce Marketing Committee or Board or services provided by a commission agent for sale or purchase of agricultural produce;

(e) trading of goods;

(f) any process amounting to manufacture or production of goods;

(g) selling of space or time slots for advertisements other than advertisements broadcast by radio or television;

(h) service by way of access to a road or a bridge on payment of toll charges;

(i) betting, gambling or lottery;

(j) admission to entertainment events or access to amusement facilities;

(k) transmission or distribution of electricity by an electricity transmission or distribution utility;

(l) services by way of-

(i) pre-school education and education up to higher secondary school or equivalent;

(ii) education as a part of a curriculum for obtaining a qualification recognised by any law for the time being in force;

(iii) education as a part of an approved vocational education course;

(m) services by way of renting of residential dwelling for use as residence;

(n) services by way of-

(i) extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount;

(ii) inter se sale or purchase of foreign currency amongst banks or authorised dealers of foreign exchange or amongst banks and such dealers;

(o) service of transportation of passengers, with or without accompanied belongings, by-

(i) a stage carriage;

(ii) railways in a class other than-

(A) first class; or

(B) an airconditioned coach;

(iii) metro, monorail or tramway;

(iv) inland waterways;

(v) public transport, other than predominantly for tourism purpose, in a vessel between places located in India; and

(vi) metered cabs, radio taxis or auto rickshaws;

(p) services by way of transportation of goods-

(i) by road except the services of-

(A) a goods transportation agency; or

(B) a courier agency;

(ii) by an aircraft or a vessel from a place outside India to the customs station of clearance in India; or

(iii) by inland waterways;

(q) funeral, burial, crematorium or mortuary services including transportation of the deceased.

Declared services.

66E. The following shall constitute declared services, namely:-

(a) renting of immovable property;

(b) construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration is received after issuance of completion certificate by the competent authority.

Explanation.- For the purposes of this clause,-

(I) the expression “competent authority” means the Government or any authority authorised to issue completion certificate under any law for the time being in force and in case of non-requirement of such certificate from such authority, from any of the following, namely:-

(A) architect registered with the Council of Architecture constituted under the Architects Act, 1972; or (20 of 1972.)

(B) chartered engineer registered with the Institution of Engineers (India); or

(C) licensed surveyor of the respective local body of the city or town or village or development or planning authority;

(II) the expression “construction” includes additions, alterations, replacements or remodelling of any existing civil structure;

(c) temporary transfer or permitting the use or enjoyment of any intellectual property right;

(d) development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software;

(e) agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act;

(f) transfer of goods by way of hiring, leasing, licensing or in any such manner without transfer of right to use such goods;

(g) activities in relation to delivery of goods on hire purchase or any system of payment by instalments;

(h) service portion in the execution of a works contract;

(i) service portion in an activity wherein goods, being food or any other article of human consumption or any drink (whether or not intoxicating) is supplied in any manner as a part of the activity.

Principles of interpretation of specified descriptions of services or bundled services.

66F. (1) Unless otherwise specified, reference to a service (herein referred to as main service) shall not include reference to a service which is used for providing main service.

(2) Where a service is capable of differential treatment for any purpose based on its description, the most specific description shall be preferred over a more general description.

(3) Subject to the provisions of sub-section (2), the taxability of a bundled service shall be determined in the following manner, namely:-

(a) if various elements of such service are naturally bundled in the ordinary course of business, it shall be treated as provision of the single service which gives such bundle its essential character;

(b) if various elements of such service are not naturally bundled in the ordinary course of business, it shall be treated as provision of the single service which results in highest liability of service tax.

Explanation.- For the purposes of sub-section (3), the expression “bundled service” means a bundle of provision of various services wherein an element of provision of one service is combined with an element or elements of provision of any other service or services.’;

(G) in section 67, in the Explanation, clause (b) shall be omitted, with effect from such date as the Central Government may, by notification, appoint;

(H) after section 67, the following section shall be inserted, namely:-

Date of determination of rate of tax, value of taxable service and rate of exchange.

’67A. The rate of service tax, value of a taxable service and rate of exchange, if any, shall be the rate of service tax or value of a taxable service or rate of exchange, as the case may be, in force or as applicable at the time when the taxable service has been provided or agreed to be provided.

Explanation.- For the purposes of this section, “rate of exchange” means the rate of exchange referred to in the Explanation to section 14 of the Customs Act, 1962.’; (52 of 1962.)

(I) in section 68, in sub-section (2), with effect from such date as the Central Government may, by notification, appoint,-

(i) for the words “any taxable service notified”, the words “such taxable services as may be notified” shall be substituted;

(ii) the following proviso shall be inserted, namely:-

“Provided that the Central Government may notify the service and the extent of service tax which shall be payable by such person and the provisions of this Chapter shall apply to such person to the extent so specified and the remaining part of the service tax shall be paid by the service provider.”;

(J) after section 72, the following section shall be inserted, namely:-

Special audit.

72A. (1) If the Commissioner of Central Excise, has reasons to believe that any person liable to pay service tax (herein referred to as “such person”),-

(i) has failed to declare or determine the value of a taxable service correctly; or

(ii) has availed and utilised credit of duty or tax paid-

(a) which is not within the normal limits having regard to the nature of taxable service provided, the extent of capital goods used or the type of inputs or input services used, or any other relevant factors as he may deem appropriate; or

(b) by means of fraud, collusion, or any wilful misstatement or suppression of facts; or

(iii) has operations spread out in multiple locations and it is not possible or practicable to obtain a true and complete picture of his accounts from the registered premises falling under the jurisdiction of the said Commissioner,

he may direct such person to get his accounts audited by a chartered accountant or cost accountant nominated by him, to the extent and for the period as may be specified by the Commissioner.

(2) The chartered accountant or cost accountant referred to in sub-section (1) shall, within the period specified by the said Commissioner, submit a report duly signed and certified by him to the said Commissioner mentioning therein such other particulars as may be specified by him,

(3) The provisions of sub-section (1) shall have effect notwithstanding that the accounts of such person have been audited under any other law for the time being in force.

(4) The person liable to pay tax shall be given an opportunity of being heard in respect of any material gathered on the basis of the audit under sub-section (1) and proposed to be utilised in any proceeding under the provisions of this Chapter or rules made thereunder.

Explanation.- For the purposes of this section,-

(i) “chartered accountant” shall have the meaning assigned to it in clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949; (38 of 1949.)

(ii) “cost accountant” shall have the meaning assigned to it in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959.’; (23 of 1959.)

(k) in section 73,-

(i) for the words “one year”, wherever they occur, the words “eighteen months” shall be substituted;

(ii) after sub-section (1), the following sub-section shall be inserted, namely:-

“(1A) Notwithstanding anything contained in sub-section (1) (except the period of eighteen months of serving the notice for recovery of service tax), the Central Excise Officer may serve, subsequent to any notice or notices served under that sub-section, a statement, containing the details of service tax not levied or paid or short levied or short paid or erroneously refunded for the subsequent period, on the person chargeable to service tax, then, service of such statement shall be deemed to be service of notice on such person, subject to the condition that the grounds relied upon for the subsequent period are same as are mentioned in the earlier notices.”;

(iii) in sub-section (4A), for the words, brackets and figures “sub-sections (3) and (4)”, the word, brackets and figure “sub-section (4)” shall be substituted;

(L) section 80 shall be re-numbered as sub-section (1) thereof, and after sub-section (1) as so re-numbered, the following sub-section shall be inserted, namely:-

“(2) Notwithstanding anything contained in the provisions of section 76 or section 77 or section 78, no penalty shall be imposable for failure to pay service tax payable, as on the 6th day of March, 2012, on the taxable service referred to in sub-clause (zzzz) of clause (105) of section 65, subject to the condition that the amount of service tax along with interest is paid in full within a period of six months from the date on which the Finance Bill, 2012 receives the assent of the President.”;

(M) in section 83, for the figures and letters “12E, 14, 14AA, 15, 33A, 34A, 35F”, the figures, letters, words and brackets “12E, 14, 15, 31, 32, 32A to 32P (both inclusive), 33A, 34A, 35EE, 35F” shall be substituted;

(N) in section 85,-

(i) in sub-section (3), after the words “under this Chapter”, the words and figures”, made before the date on which the Finance Bill, 2012 receives the assent of the President” shall be inserted;

(ii) after sub-section (3), the following sub-section shall be inserted, namely:-

“(3A) An appeal shall be presented within two months from the date of receipt of the decision or order of such adjudicating authority, made on and after the Finance Bill, 2012 receives the assent of the President, relating to service tax, interest or penalty under this Chapter:

Provided that the Commissioner of Central Excise (Appeals) may, if he is satisfied that the appellant was prevented by sufficient cause from presenting the appeal within the aforesaid period of two months, allow it to be presented within a further period of one month.”;

(O) in section 86,-

(i) in sub-section (1), after the words “against such order”, the words “within three months of the date of receipt of the order” shall be inserted;

(ii) for sub-section (3), the following sub-section shall be substituted, namely:-

“(3) Every appeal under sub-section (2) or sub-section (2A) shall be filed within four months from the date on which the order sought to be appealed against is received by the Committee of Chief Commissioners or, as the case may be, the Committee of Commissioners.”;

(P) in section 88, for the word “duty”, the word “tax” shall be substituted;

(Q) in section 89, in sub-section (1), for clause (a), the following clause shall be substituted with effect from the date on which the Finance Bill, 2012 receives the assent of the President, namely:-

“(a) knowingly evades the payment of service tax under this Chapter; or”;

(R) in section 93A, for the words “of such goods”, the words “or removal or export of such goods” shall be substituted;

Insertion of new section 93B.

(S) after section 93A, the following section shall be inserted, namely:-

Rules made under section 94 to be applicable to services other than taxable services.

“93B. All rules made under section 94 and applicable to the taxable services shall also be applicable to any other service in so far as they are relevant to the determination of any tax liability, refund, credit of service tax or duties paid on inputs and input services or for carrying out the provisions of Chapter V of the Finance Act, 1994.”; (32 of 1994.)

(T) in section 94, in sub-section (2),-

(i) clause (ee) shall be omitted;

(ii) in clause (hhh), after the words “provision of taxable service”, the words, figures and letter “under section 66C” shall be inserted;

(iii) clause (i) shall be re-lettered as clause (k) thereof and before the clause (k) as so re-lettered, the following shall be inserted, namely:-

“(i) provide for the amount to be paid for compounding and the manner of compounding of offences;

(j) provide for the settlement of cases, in accordance with sections 31, 32 and 32A to 32P (both inclusive), in Chapter V of the Central Excise Act, 1944 as made applicable to service tax vide section 83;’; (1 of 1944.)

(U) in section 95, after sub-section (1H), the following sub-section shall be inserted, namely:-

“(1-I). If any difficulty arises in giving effect to section 143 of the Finance Act, 2012, in so far as it relates to insertion of sections 65B, 66B, 66C, 66D, 66E and section 66F in Chapter V of the Finance Act, 1994, the Central Government may, by order published in the Official Gazette, which is not inconsistent with the provisions of this Chapter, make such provisions, as may be necessary or expedient for the purpose of removing the difficulty from such date, which shall include the power to give retrospective effect from a date not earlier than the date of coming into force of the Finance Act, 2012: (32 of 1994.)

Provided that no such order shall be made after the expiry of a period of two years from the date of coming into force of these provisions.”;

(V) in section 96C, in sub-section (2), for clause (e), the following clause shall be substituted, namely:-

“(e) admissibility of credit of duty or tax in terms of the rules made in this regard;”;

Insertion of new sections 97 and 98.

(W) after section 96J, the following sections shall be inserted, namely:-

Special provision for exemption in certain cases relating to management, etc., of roads.

“97. (1) Notwithstanding anything contained in section 66, no service tax shall be levied or collected in respect of management, maintenance or repair of roads, during the period on and from the 16th day of June, 2005 to the 26th day of July, 2009 (both days inclusive).

(2) Refund shall be made of all such service tax which has been collected but which would not have been so collected had sub-section (1) been in force at all material times.

(3) Notwithstanding anything contained in this Chapter, an application for the claim of refund of service tax shall be made within a period of six months from the date on which the Finance Bill, 2012 receives the assent of the President.

Special provision for exemption in certain cases relating to management, etc., of non-commercial Government buildings.

98. (1) Notwithstanding anything contained in section 66, no service tax shall be levied or collected in respect of management, maintenance or repair of non-commercial Government buildings, during the period on and from the 16th day of June, 2005 till the date on which section 66B comes into force.

(2) Refund shall be made of all such service tax which has been collected but which would not have been so collected had sub-section (1) been in force at all material times.

(3) Notwithstanding anything contained in this Chapter, an application for the claim of refund of service tax shall be made within a period of six months from the date on which the Finance Bill, 2012 receives the assent of the President.”

Amendment of rule 6 of CENVAT Credit Rules, 2004.

144. (1) In the CENVAT Credit Rules, 2004, made by the Central Government in exercise of the powers conferred by section 37 of the Central Excise Act, 1944, sub-rule (6A) of rule 6 as inserted by clause (ix) of rule 5 of the CENVAT Credit (Amendment) Rules, 2011, published in the Official Gazette vide notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 134(E), dated the 1st March, 2011 shall stand amended and shall be deemed to have been amended retrospectively, in the manner specified in column (2) of the Eighth Schedule, on and from the date specified in column (3) of that Schedule, against the rule specified in column (1) of that Schedule. (1 of 1944.)

(2) Notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority, any action taken or anything done or purported to have been taken or done, on and from the 10th day of February, 2006, relating to the provisions as amended by sub-section (1), shall be deemed to be and deemed always to have been, for all purposes, as validly and effectively taken or done as if the amendments made by sub-section (1) had been in force at all material times.

(3) For the purpose of sub-section (1), the Central Government shall have and shall be deemed to have the power to make rules with retrospective effect as if the Central Government had the power to make rules under section 37 of the Central Excise Act, 1944, retrospectively, at all material times. (1 of 1944.)

Validation of exemption given to club or association including cooperative societies in relation to project.

145. (1) The notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 566 (E), dated the 25th July, 2011, issued in exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994, granting exemption from the whole of service tax leviable under section 66 thereof, on the club or association service referred to in sub-clause (zzze) of clause (105) of section 65 of the said Act, provided by a club or an association including registered cooperative societies, in relation to the project, shall be deemed to have, and deemed always to have, for all purposes, validly come into force on and from the 16th day of June, 2005, at all material times. (32 of 1994.)

(2) Refund shall be made of all such service tax which has been collected but which would not have been so collected as if the notification referred to in sub-section (1) had been in force at all material times.

(3) Notwithstanding anything contained in the Finance Act, 1994, an application for the claim of refund of service tax shall be made within six months from the date on which the Finance Bill, 2012 receives the assent of the President. (32 of 1994.)

Explanation.– For the removal of doubts, it is hereby declared that,-

(i) project means common facility set-up for treatment and recycling of effluents and solid wastes, with financial assistance from the Central Government or a State Government;

(ii) the provisions of section 11B of the Central Excise Act, 1944, shall be applicable in case of refunds under this section. (1 of 1944.)

CHAPTER VI
AMENDMENTS TO THE FISCAL RESPONSIBILITY AND
BUDGET MANAGEMENT ACT, 2003.

Amendment of section 2.

146. In section 2 of the Fiscal Responsibility and Budget Management Act, 2003 (hereinafter referred to as the Fiscal Responsibility Act),- (39 of 2003.)

(i) after clause (a), the following clause shall be inserted, namely:-

‘(aa) “effective revenue deficit” means the difference between the revenue deficit and grants for creation of capital assets;’;

(ii) after clause (b), the following clause shall be inserted, namely:-

(bb) “grants for creation of capital assets” means the grants in aid given by the Central Government to the State Governments, constitutional authorities or bodies, autonomous bodies, local bodies and other scheme implementing agencies for creation of capital assets which are owned by the said entities;’;.

Amendment of section 3.

147. In section 3 of the Fiscal Responsibility Act,-

(a) in sub-section (1),-

(i) in the opening portion, for the words “demands for grants”, the words “demands for grants except the Medium-term Expenditure Framework Statement” shall be substituted;

(ii) after clause (c), the following clause shall be inserted, namely:-

“(d) the Medium-term Expenditure Framework Statement”;

(b) after sub-section (1), the following sub-sections shall be inserted, namely:-

“(1A) The statements referred to in clauses (a) to (c) of sub-section (1) shall be followed up with the Medium-term Expenditure Framework Statement with detailed analysis of underlying assumptions.

(1B) The Central Government shall lay the Medium-term Expenditure Framework Statement referred to in clause (d) of sub-section (1) before both Houses of Parliament, immediately following the Session of Parliament in which the policy statements referred to in clauses (a) to (c) were laid under sub-section (1).”;

(c) after sub-section (6), the following sub-section shall be inserted, namely:-

“(6A) (a) The Medium-term Expenditure Framework Statement shall set forth a three-year rolling target for prescribed expenditure indicators with specification of underlying assumptions and risk involved.

(b) In particular and without prejudice to the provisions contained in clause (a), the Medium-term Expenditure Framework Statement shall, inter alia, contain-

(i) the expenditure commitment of major policy changes involving new service, new instruments of service, new schemes and programmes;

(ii) the explicit contingent liabilities, which are in the form of stipulated annuity payments over a multi-year time-frame;

(iii) the detailed breakup of grants for creation of capital assets.”;

(d) in sub-section (7), for the words “the Fiscal Policy Strategy Statement,”, the words “the Fiscal Policy Strategy Statement, the Medium-term Expenditure Framework Statement” shall be substituted.

Amendment of section 4.

148. In section 4 of the Fiscal Responsibility Act,-

(a) for sub-section (1), the following sub-section shall be substituted, namely:-

“(1) The Central Government shall take appropriate measures to reduce the fiscal deficit, revenue deficit and effective revenue deficit to eliminate the effective revenue deficit by the 31st March, 2015 and thereafter build up adequate effective revenue surplus and also to reach revenue deficit of not more than two per cent, of Gross Domestic Product by the 31st March, 2015 and thereafter as may be prescribed by rules made by the Central Government.”;

(b) in sub-section (2),-

(i) in clause (a),-

(A) for the words “fiscal deficit and revenue deficit”, the words “fiscal deficit, revenue deficit and effective revenue deficit” shall be substituted;

(B) for the words, figures and letters “the 31st March, 2009”, the words, figures and letters “the 31st March, 2015” shall be substituted;

(ii) in the first proviso, after the words “the revenue deficit,”, the words”, effective revenue deficit” shall be inserted.

Insertion of new section 7A.

149. After section 7 of the Fiscal Responsibility Act, the following section shall be inserted, namely;-

Laying of review reports.

“7A. The Central Government may entrust the Comptroller and Auditor-General of India to review periodically as required, the compliance of the provisions of this Act and such reviews shall be laid on the table of both Houses of Parliament.”.

Amendment of sections 8.

150. In section 8 of the Fiscal Responsibility Act, in sub-section (2),-

(i) after clause (b), the following clause shall be inserted, namely:-

“(ba) the expenditure indicators with specifications of underlying assumptions and risk involved under clause (a) of sub-section (6A) of section 3;”;

(ii) in clause (c), for the words “Fiscal Policy Strategy Statement”, the words “Fiscal Policy Strategy Statement, Medium-term Expenditure Framework Statement” shall be substituted;

(iii) after clause (c), the following clause shall be inserted, namely:-

“(ca) the per cent, of revenue deficit to be specified after the 31st March, 2015 under sub-section (1) of section 4;”.

CHAPTER VII

MISCELLANEOUS

Amendment of Schedule to Act 47 of 1974.

151. In the Oil Industry (Development) Act, 1974, in the Schedule, against Sl. No.1 relating to crude oil, for the entry in column 3, the entry “Rupees four thousand five hundred per tonne” shall be substituted.

Amendment of Seventh Schedule to Act 14 of 2001.

152. The Seventh Schedule to the Finance Act, 2001 (as substituted by the Twelfth Schedule to the Finance Act, 2005) shall be amended in the manner specified in the Ninth Schedule. (18 of 2005)

Amendment of Act 23 of 2004.

153. In the Finance (No. 2) Act, 2004, with effect from the 1st day of July, 2012,-

(a) in section 97,-

(i) after clause (5), the following clauses shall be inserted, namely:-

‘(5A) “initial public offer” has the meaning assigned to it in clause (p) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 made under the Securities and Exchange Board of India Act, 1992; (15 of 1992)

(5B) “lead merchant banker” means a merchant banker appointed as lead merchant banker in accordance with sub-regulation (1) of regulation 5 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 made under the Securities and Exchange Board of India Act, 1992;”; (15 of 1992)

(ii) in clause (13), after sub-clause (a), the following sub-clause shall be inserted, namely: –

“(aa) sale of unlisted equity shares by any holder of such shares under an offer for sale to the public included in an initial public offer and where such shares are subsequently listed on a recognised stock exchange; or'”;

(b) in section 98, in the Table, –

(i) against Sl. No. 1 under column (3) relating to rate, for the figures and words “0.125 per cent”, the figures and words “0.1 per cent,” shall be substituted;

(ii) against Sl. No. 2, under column (3) relating to rate, for the figures and works “0.125 per cent”, the figures and words “0.1 per cent” shall be substituted;

(iii) after Sl. No. 5, and the entries relating thereto, the following Sl. No. entries shall be inserted, namely: –

1

2

3

4

“6. Sale of unlisted equity shares under an offer for Sale referred to in sub-clause (aa) of clause (13) of section 97. 0.2 per cent. Seller”;

(c) in section 100, –

(i) after sub-section (2), the following sub-section shall be inserted, namely: –

“(2A) The lead merchant banker appointed by the company in respect of an initial public offer shall collect the securities transaction tax from every person who enters into a taxable securities transaction referred to in sub-clause (aa) of clause (13) of section 97 at the rate specified in section 98.”;

(ii) in sub-section (3), –

(A) after the words, brackets and figure “sub-section (2)”, the words, brackets, figure and letter “or sub-section (2A)” shall be inserted;

(B) after the words “Mutual Fund”, the words “or the lead merchant banker in the case of an initial public offer” shall be inserted;

(iii) in sub-section (4), after the words, “Mutual Fund”, the words “or the lead merchant banker in the case of an initial public offer” shall be inserted;

(d) in section 101, after the words “in the case of every Mutual Fund”, the words “or the lead merchant banker in the case of an initial public offer” shall be inserted.

Amendment of Seventh Schedule to Act 18 of 2005.

154. The Seventh Schedule to the Finance Act, 2005 shall be amended in the manner specified in the Tenth Schedule.

Amendment of Act 14 of 2010.

155. In section 73 of the Finance Act, 2010, in sub-section (2), for the word “inputs”, the words “inputs or input services” shall be substituted and shall be deemed to have been substituted with effect from the 8th day of May, 2010.

Amendment of Act 8 of 2011.

156. In the Finance Act, 2011, with effect from the date of coming into force of that Act,-

(i) in section 73,-

(A) in the opening portion, for the brackets, words and letter “(hereinafter referred to as the Central Excise Tariff Act),-

(a) the First Schedule shall”,

the words”, the First Schedule shall” shall be substituted and shall be deemed to have been substituted;

(B) the brackets, letter and words “(b) the Third Schedule shall be amended in the manner specified in the Twelfth Schedule” shall be inserted and shall be deemed to have been inserted under the heading “Excise” as section 70A of the aforesaid Act.

(ii) in the Twelfth Schedule, for the brackets, words, figures and letter

“[See section 73(b)]

In the Third Schedule to the Central Excise Tariff Act”,

the following shall be substituted and shall be deemed to have been substituted, namely:-

“[See section 70A]

In the Third Schedule to the Central Excise Act”.

THE SECOND SCHEDULE

(See section 129)

Description of item and its exemption

Period of effect

(1)

(2)

Foreign-going vessels 1st March, 2011 to 16th March, 2012
Explanation – For the purpose of this exemption, “foreign-going vessels” shall have the meaning assigned to it under clause (21) of section 2 of the Customs Act.

THE THIRD SCHEDULE

(See Section 131)

In the First Schedule to the Customs Tariff Act,-

(1) In Chapter 24, in the entry in column (2) occurring against the tariff items 2402 20 10, 2402 20 20, 2402 20 30 and 2402 20 40, for the figures and word “60 millimetres”, the figures and word “65 millimetres” shall be substituted;

(2) in Chapter 26, in heading 2601, in sub-heading 2601 11, for tariff items 2601 11 10 to 2601 11 90 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:-

Tariff Item

Description of goods

Unit

Rate of Duty

Standard

Preferential Area

(1)

(2)

(3)

(4)

(5)

“— Iron ore lumps (60% Fe or more)
2601 11 11 —- 60% Fe or more but below 62% Fe

kg.

10%

2601 11 12 —- 62% Fe or more but below 65% Fe

kg.

10%

2601 11 19 —- 65% Fe and above

kg.

10%

— Iron ore lumps (below 60% Fe, including black iron ore containing up to 10% Mn)
2601 11 21 —- below 55% Fe

kg.

10%

2601 11 22 —- 55% Fe or more but below 58% Fe

kg.

10%

2601 11 29 —- 58% Fe or more but below 60% Fe

kg.

10%

—Iron ore fines (62% Fe or more)
2601 11 31 —- 62% Fe or more but below 65% Fe

kg.

10%

2601 11 39 —- 65% Fe and above

kg.

10%

—Iron ore Fines (below 62% Fe)
2601 11 41 —- below 55% Fe

kg.

10%

2601 11 42 —- 55% Fe or more but below 58% Fe

kg.

10%

2601 11 43 —- 58% Fe or more but below 60% Fe

kg.

10%

2601 11 49 —- 60% Fe or more but below 62% Fe

kg.

10%

2601 11 50 —Iron ore concentrates

kg.

10%

2601 11 90 —Others

kg.

10%

-“

(3) in Chapter 48, after Note 12, the following Note shall be inserted, namely:-

“13. Notwithstanding anything contained in Note 12, if paper and paper products of heading 4811, 4816 or 4820 are printed with any character, name, logo, motif or format, they shall remain classified under the respective headings as long as such products are intended to be used for further printing or writing.”;

(4) in Chapter 74, in heading 7404,-

(a) in tariff item 7404 00 12, in the entry in column (2), for the words “ISRI code word ‘Palms'”, the following words shall be substituted, namely:-

“ISRI code word ‘Palms’;

Miscellaneous copper-containing skimmings, grindings, ashes, irony brass and copper, residues and slags covered by ISRI code word ‘Drove’;

Copper wire scrap with various types of insulation covered by ISRI code word ‘Druid”;

(b) in tariff item 7404 00 22, in the entry in column (2), for the words “ISRI code word ‘Parch'”, the following words shall be substituted, namely,-

“ISRI code word ‘Parch’;

High Grade-Low Lead Bronze/Brass Solids covered by ISRI code word ‘E!and’;

High lead bronze solids and borings covered by ISRI code word ‘Elias’;

Clean fired 70/30 brass shell cases free of primers and any other foreign material covered by !SR1 code word ‘Lace’;

Clean fired 70/30 brass shell cases containing the brass primers and containing no other foreign material covered by ISRI code word ‘Lady’;

Clean fired 70/30 brass shells free of bullets, iron and any other foreign material covered by ISRI code word ‘Lake’;

Clean muffled (popped) 70/30 brass shells free of bullets, iron and any other foreign material covered by ISRI code word ‘Lamb”;

(5) in Chapter 75, in tariff item 7503 00 10, in the entry in column (2), for the words “other floating structures”, the following words shall be substituted, namely:-

“other floating structures;

Nickel-iron batteries to be sold free of crates, copper terminal connectors and excess liquid, must be free of nickel cadmium batteries covered by ISRI code word ‘Vaunt'”;

(6) in Chapter 76, in heading 7602, in tariff item 7602 00 10, in column (2),-

(a) for the words “ISRI code word ‘Talap’, the words “ISRI code word Talc'” shall be substituted;

(b) for the words “ISRI code word ‘Tanri’, the words “ISRI code word Tann'” shall be substituted;

(c) for the words “old aluminium foil covered by ISRI code word ‘Testy'”, the following words shall be substituted, namely:-

“New aluminium foil covered by ISRI code word Tetra’;

Old aluminium foil covered by ISRI code word ‘Tesla’;”;

(d) for the words “ISRI code word Twitch'”, the following words and brackets shall be substituted, namely:

“ISRI code word Twitch’;

Aluminium auto or truck wheels covered by ISRI code word ‘Troma’;

Fragmentizer aluminium scrap from automobile shredders covered by ISRI code word Tweak’;

Burnt Fragmentizer aluminium scrap (from automobile shredders) covered by ISRI code word Twire’;

Shredded non-ferrous scrap (predominantly aluminium) covered by ISRI code word ‘Zorba’;

Aluminium drosses, spatterns, spellings, skimmings and sweepings covered by ISRI code word Thirl’;

New production aluminium extrusions covered by ISRI code word Tata’;

All aluminium radiators from automobiles covered by ISRI code word Tally’;

Aluminium extrusions ’10/10′ covered by ISRI code word Toto’;

Aluminium extrusions dealer grade covered by the word Tutu'”;

(7) in Chapter 78, in tariff item 7802 00 10, in the entry in column (2), for the words “ISRI code word ‘Roses’, the following words and brackets shall be substituted, namely:-

“ISRI code word ‘Roses’;

Lead battery plates whether automotive, industrial or mixed covered by ISRI cods word ‘Rails’;

Battery lugs free of scrap lead, wheel weights, battery plates, rubber or plastic case material and other foreign material covered by ISRI code word ‘Rakes’;

Lead covered copper cable free of armoured covered cable and foreign material covered by ISRI code word ‘Relay’;

Lead dross covered by ISRI code word ‘Rents’;

(8) in Chapter 79, in tariff item 7902 00 10, in the entry in column (2), for the word “oxidation”, the following words shall be substituted, namely:-

“‘oxidation’;

Unsorted zinc die cast scrap produced from automobile fragmentizers containing about 55% zinc-bearing scrap covered by ISRI code word ‘Scroll'”;

(9) in Chapter 87,-

(a) in tariff item 8712 00 10, for the entry in column (4), the entry “30%” shall be substituted;

(b) in tariff items 8714 91 00 to 8714 99 90, for the entry in column (4), the entry “20%” shall be substituted.

THE FOURTH SCHEDULE

(See section 132)

In the Second Schedule to the Customs Tariff act, against Sl. No. 24 relating to Chromium ore and concentrates, all sorts, for the entry in column (4), the entry “30%” shall be substituted.

THE FIFTH SCHEDULE

(See section 138)

Notification number and date

Amendment

Date of effect of amendment

(1)

(2)

(3)

1. G.S.R. 62 (E), dated the 6th February, 2010 [1/2010-Central Excise, dated the 6th February, 2010], In the said notification, in paragraph 9, for the words “from the date of publication of this notification or from the date of commercial production whichever is later”, the following words shall be substituted, namely:-“from the date of commercial production, or from the date of commercial production from the expanded capacity referred to in sub-clause (i) of clause (b) of paragraph 8, as the case may be”. 6th day of February, 2010.
2. G.S.R. 163 (E), dated the 17th March, 2012 [12/2012-Central Excise, dated 17th March, 2012]. In the said notification, in the Table, in Sl. No. 199, against item(I),-(a) for the entry in column (4), the entry “Nil” shall be substituted;

(b) the entry in column (5) shall be omitted.17th day of March, 2012

THE SIXTH SCHEDULE

(See section 140)

In the Third Schedule to the Central Excise Act, after S.No. 26 and the entries relating thereto, the following S. No. and entries shall be inserted, namely:-

S.No.

Heading, sub-heading or tariff item

Description of goods

(1)

(2)

(3)

“26A 2402 20 10 to 2402 20 90 All goods”.

THE SEVENTH SCHEDULE

(See section 141)

In the First Schedule to the Central Excise Tariff Act,-

(7) in Chapter 4, in tariff items 0402 91 10 and 0402 99 20, for the entry in column (4), the entry “12%” shall be substituted;

(2) in Chapter 11,-

(a) for the entry in column (4) occurring against all the tariff items of heading 1107, the entry “12%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of heading 1108 (except tariff item 1108 20 00), the entry”12%” shall be substituted;

(3) in Chapter 13, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(4) in Chapter 14, in tariff item 1404 90 50, for the entry in column (4), the entry “6%” shall be substituted;

(5) in Chapter 15,-

(a) in all the tariff items of headings 1501 and 1502, for the entry in column (4), the entry “6%” shall be substituted;

(b) in tariff item 1503 00 00, for the entry in column (4), the entry “6%” shall be substituted;

(c) in the tariff items of headings 1504 to 1516 and 1517 (except 1517 10 22), for the entry in column (4), the entry “6%” shall be substituted;

(d) in tariff item 1517 10 22, for the entry in column (4), the entry “12%” shall be substituted;

(e) in all the tariff items of heading 1518, for the entry in column (4), the entry “6%” shall be substituted;

(f) in tariff item 1520 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(g) in all the tariff items of headings 1521 and 1522, for the entry in column (4), the entry “12%” shall be substituted;

(6) in Chapter 16, for the entry in column (4) occurring against all the tariff items, the entry “6%” shall be substituted;

(7) in Chapter 17,-

(a) for the entry in column (4) occurring against all the tariff items of headings 1701 (except tariff items 1701 13 20 and 1701 14 20), 1702 (except tariff item 1702 90 10) and 1704, the entry “12%” shall be substituted;

(b) in tariff items 1701 13 20 and 1701 14 20, for the entry in column (4), the entry “6%” shall be substituted;

(8) in Chapter 18, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(9) in Chapter 19 –

(a) in tariff items 1901 10 10 and 1901 10 90, for the entry in column (4), the entry “6%” shall be substituted;

(b) in tariff items 1901 20 00, 1901 90 10 and 1901 90 90, for the entry in column (4), the entry “12%” shall be substituted;

(c) in tariff items 1902 11 00, 1902 19 00, 1902 20 10, 1902 20 90, 1902 30 10 and 1902 30 90, for the entry in column (4), the entry “6%” shall be substituted:

(d) in tariff items 1902 40 10 and 1902 40 90, for the entry in column (4), the entry”12%” shall be substituted;

(e) in tariff item 1903 00 00, for the entry in column (4), the entry “6%” shall be substituted;

(f) for the entry in column (4) occurring against all the tariff items of heading 1904, the entry “12%” shall be substituted;

(g) in tariff item 1905 31 00, for the entry in column (4), the entry “6%” shall be substituted;

(h) in tariff items 1905 32 11, 1905 32 19 and 1905 32 90, for the entry in column (4), the entry “12%” shall be substituted;

(i) in tariff items 1905 90 10 and 1905 90 20, for the entry in column (4), the entry “6%” shall be substituted;

(10) in Chapter 20, for the entry in column (4) occurring against all the tariff items, the entry “6%” shall be substituted;

(11) in Chapter 21,-

(a) for the entry in column (4) occurring against all the tariff items of heading 2101 (except tariff items 2101 30 10, 2101 30 20 and 2101 30 90), the entry “12%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of headings 2102, 2103 and 2104, the entry “12%” shall be substituted;

(c) in tariff item 2105 00 00, for the entry in column (4), the entry “6%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of heading 2106 (except 2106 90 20 and 2106 90 92), the entry “12%” shall be substituted;

(e) in tariff item 2106 90 92, for the entry in column (4), the entry “6%” shall be substituted;

(12) in Chapter 22,-

(a) for the entry in column (4) occurring against all the tariff items of heading 2201 (except 2201 90 10), the entry “12%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of heading 2202 (except 2202 90 10 and 2202 90 20), the entry “12%” shall be substituted;

(c) in tariff items 2202 90 10 and 2202 90 20, for the entry in column (4), the entry “6%” shall be substituted;

(d) in tariff item 2207 20 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of heading 2209, the entry “12%” shall be substituted;

(13) in Chapter 24 –

(a) in tariff items 2402 10 10 and 2402 10 20, for the entry in column (4), the entry “12% or Rs.1370 per thousand, whichever is higher” shall be substituted;

(b) in the entry in column (2) occurring against the tariff item 2402 20 10, for the figures and word “60 millimetres”, the figures and word “65 millimetres” shall be substituted;

(c) in tariff item 2402 20 20 –

(i) in the entry in column (2), for the figures and word “60 millimetres”, the figures and word “65 millimetres” shall be substituted;

(ii) for the entry in column (4), the entry “Rs1463 per thousand” shall be substituted;

(d) in the entries in column (2) occurring against the tariff item 2402 20 30, for the figures and word “60 millimetres”, the figures and word “65 millimetres” shall be substituted;

(e) in tariff item 2402 20 40 –

(i) in the entry in column (2), for the figures and word “60 millimetres”, the figures and word “65 millimetres” shall be substituted;

(ii) for the entry in column (4), the entry “Rs. 1034 per thousand” shall be substituted;

(f) in tariff item 2402 20 50, for the entry in column (4), the entry “Rs.1463 per thousand” shall be substituted;

(g) in tariff item 2402 20 60, for the entry in column (4), the entry “Rs. 1974 per thousand” shall be substituted;

(h) in tariff item 2402 20 90, for the entry in column (4), the entry “Rs. 2373 per thousand” shall be substituted;

(14) in Chapter 25, –

(a) in Note 6, the words “or polishing” shall be omitted;

(b) in tariff item 2503 00 10, for the entry in column (4), the entry “12%” shall be substituted;

(c) in tariff items 2515 12 20 and 2515 12 90, for the entry in column (4), the entry “12%” shall be substituted;

(d) in tariff item 2523 10 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) in tariff item 2523 21 00, for the entry in column (4), the entry “12%” shall be substituted;

(f) in tariff items 2523 30 00, 2523 90 10, 2523 90 20 and 2523 90 90, for the entry in column (4), the entry “12%” shall be substituted;

(15) in Chapter 26,-

(a) in heading 2601, for the tariff items 2601 11 10 to 2601 11 90 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:-

(1)

(2)

(3)

(4)

“— Iron ore lumps (60% Fe or more)
2601 11 11 60% Fe or more but below 62% Fe Kg. 12%
2601 11 12 62% Fe or more but below 65% Fe Kg. 12%
2601 11 19 above 65% Fe Kg. 12%
Iron ore lumps (below 60% Fe, including black iron ore containing up to 10% Mn)
2601 11 21 below 55% Fe Kg. 12%
2601 11 22 55% Fe or more but below 58% Fe Kg. 12%
2601 11 29 58% Fe or more but below 60% Fe Kg. 12%
Iron ore fines (62% Fe or more)
2601 11 31 62% Fe or more but below 65% Fe Kg. 12%
2601 11 39 above 65% Fe Kg. 12%
Iron ore Fines (below 62% Fe)
2601 11 41 below 55% Fe Kg. 12%
2601 11 42 55% Fe or more but below 58% Fe Kg. 12%
2601 11 43 58% Fe or more but below 60% Fe Kg. 12%
2601 11 49 60% Fe or more but below 62% Fe Kg. 12%
2601 11 50 Iron ore concentrates Kg. 12%
2601 11 90 Others Kg. 12%”;

(b) in tariff items 2601 12 10, 2601 12 90 and 2601 20 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items in heading 2602, the entry “12%” shall be substituted;

(d) in tariff items 2603 00 00, 2604 00 00 and 2605 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items in heading 2606, the entry “12%” shall be substituted;

(f) in tariff items 2607 00 00, 2608 00 00 and 2609 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(g) for the entry in column (4) occurring against all the tariff items in heading 2610, the entry “12%” shall be substituted;

(h) in tariff item 2611 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(i) for the entry in column (4) occurring against all the tariff items in heading 2612, 2613, 2614, 2615, 2616, and 2617, the entry “12%” shall be substituted;

(j) in tariff item 2618 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(k) for the entry in column (4) occurring against all the tariff items in heading 2619, 2620 and 2621, the entry “12%” shall be substituted;

(16) in Chapter 27 –

(a) for the entry in column (4) occurring against all the tariff items of headings 2701, 2702, 2703, 2704 and 2706, the entry “6%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of headings 2707 and 2708, the entry “14%” shall be substituted;

(c) in tariff items 2710 12 11 to 2710 12 90, in column (4), for the entry “16% +Rs. 15 per litre”, the entry “14% + Rs.15 per litre” shall be substituted;

(d) in tariff items 2710 19 10 and 2710 19 20, for the entry in column (4), the entry “14%” shall be substituted;

(e) in tariff items 2710 19 30 and 2710 19 40, in column (4), for the entry “16% + Rs. 5 per litre”, the entry “14% + Rs. 5 per litre” shall be substituted;

(f) in tariff items 2710 19 50, 2710 19 60, 2710 19 70, 2710 19 80 and 2710 19 90, for the entry in column (4), the entry “14%” shall be substituted;

(g) in tariff item 2710 20 00, for the entry in column (4), the entry “14% + Rs. 15 per litre” shall be substituted;

(h) for the entry in column (4) occurring against all the tariff items of headings 2711, 2712, 2713, 2714 and 2715, the entry “14%” shall be substituted;

(17) in Chapter 28,-

(a) for the entry in column (4) occurring against all the tariff items of headings 2801, 2802, 2803, 2804 (except 2804 40 10), 2805,2806,2807,2808,2809,2810,2811,2812,2813,2814,2815,2816,2817,2818,2819,2820,2821,2822,2823,2824, 2825, 2826, 2827, 2828, 2829, 2830, 2831, 2832, 2833, 2834, 2835, 2836, 2837, 2839, 2840, 2841, 2842, 2843 and 2844 (except 2844 30 22), the entry “12%” shall be substituted;

(b) in tariff item 2845 90 90, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of heading 2846, the entry “12%” shall be substituted;

(d) in tariff item 2847 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of headings 2848, 2849 and 2850, the entry “12%” shall be substituted;

(f) in tariff item 2852 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(g) for the entry in column (4) occurring against all the tariff items of headings 2853 (except 2853 00 30), the entry “12%” shall be substituted;

(18) in Chapter 29, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(19) in Chapter 30,-

(a) for the entry in column (4) occurring against all the tariff items of heading 3001, the entry “6%” shall be substituted;

(b) in tariff items 3002 20 11 to 3002 30 00, for the entry in column (4), the entry “6%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 3003, 3004 and 3005, for the entry in column (4), the entry “6%” shall be substituted

(d) for the entry in column (4) occurring against all the tariff items of heading 3006 (except 3006 60 10, 3006 60 20, 3006 60 30 and 3006 92 00), for the entry in column 4), the entry “6%” shall be substituted;

(20) in Chapter 31, for the entry in column (4) occurring against all the tariff items of headings 3102, 3103, 3104 and 3105, the entry “12%” shall be substituted;

(21) in Chapter 32 –

(a) for the entry in column (4) occurring against all the tariff items (except 3215 90 10 and 3215 90 20), the entry “12%” shall be substituted;

(b) in tariff items 3215 90 10 and 3215 90 20, for the entry in column (4), the entry “6%” shall be substituted;

(22) in Chapter 33, for the entry in column (4) occurring against all the tariff items of headings 3301, 3302, 3303, 3304, 3305, 3306 and 3307 (except 3307 41 00), the entry “12%” shall be substituted;

(23) in Chapter 34, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(24) in Chapter 35, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(25) in Chapter 36, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(26) in Chapter 37, for the entry in column (4) occurring against all the tariff items of headings 3701, 3702, 3703, 3704 and 3707, for the entry in column (4), the entry “12%” shall be substituted;

(27) in Chapter 38,-

(a) for the entry in column (4) occurring against all the tariff items (except 3824 50 10, 3825 10 00, 3825 20 00 and 3825 30 00), the entry “12%” shall be substituted;

(b) in tariff item 3824 50 10, for the entry in column (4), the entry “6%” shall be substituted;

(28) in Chapter 39 –

(a) for the entry in column (4) occurring against all the tariff items (except 3916 10 20, 3916 20 11, 3916 20 91 and 3916 90 10), the entry “12%” shall be substituted;

(b) in tariff items 3916 10 20, 3916 20 11, 3916 20 91 and 3916 90 10, for the entry in column (4), the entry “6%” shall be substituted;

(29) in Chapter 40 –

(a) for the entry in column (4) occurring against all the tariff items of heading 4002, the entry “12%” shall be substituted;

(b) in tariff items 4003 00 00 and 4004 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 4005, 4006, 4007, 4008 (except 4008 19 10, 4008 21 10 and 4008 29 20), 4009, 4010 and 4011, the entry “12%” shall be substituted;

(d) in tariff items 4012 90 10 to 4012 90 90, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of headings 4013, 4014 (except 4014 10 10 and 4014 10 20), 4015, 4016 and 4017, the entry “12%” shall be substituted;

(30) in Chapter 42, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(31) in Chapter 43, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(32) in Chapter 44,-

(a) for the entry in column (4) occurring against all the tariff items of headings 4401, 4403, 4404, 4406, 4408 (except 4408 10 30, 4408 31 30, 4408 39 30 and 4408 90 20), 4409, 4410, 4411 and 4412, the entry “12%” shall be substituted;

(b) in tariff items 4413 00 00 and 4414 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 4415 and 4416, the entry “12%” shall be substituted;

(d) in tariff item 4417 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of headings 4418, 4419, 4420 and 4421, the entry “12%” shall be substituted;

(33) in Chapter 45, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(34) in Chapter 46, for the entry in column (4) occurring against all the tariff items, the entry “6%” shall be substituted;

(35) in Chapter 47 –

(a) in tariff items 4701 00 00 and 4702 00 00, for the entry in column (4), the entry “6%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of headings 4703 and 4704, the entry “6%” shall be substituted;

(c) in tariff item 4705 00 00, for the entry in column (4), the entry “6%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of heading 4706, the entry “6%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of heading 4707, the entry “12%” shall be substituted;

(36) in Chapter 48 –

(a) after Note 13, the following Note shall be inserted, namely:-

“14. Notwithstanding anything contained in Note 12, if the paper and paper products of headings 4811, 4816 or 4820 are printed with any character, name, logo, motif or format, they shall remain classified under the respective headings as long as such products are intended to be used for further printing or writing.”;

(b) for the entry in column (4) occuring against all the tariff items of headling 4802, the entry “6%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headling 4803, the entry “12%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of headings 4804 and 4805, the entry “6%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of heading 4806 (except 4806 20 00 and 4806 40 10), the entry “12%” shall be substituted;

(f) in tariff items 4806 20 00 and 4806 40 10, for the entry in column (4), the entry “6%” shall be substituted;

(g) for the entry in column (4) occurring against all the tariff items of headings 4807 and 4808, the entry “6%” shall be substituted;

(h) for the entry in column (4) occurring against all the tariff items of heading 4809, the entry “12%” shall be substituted;

(i) for the entry in column (4) occurring against all the tariff items of heading 4810, the entry “6%” shall be substituted;

(j) for the entry in column (4) occurring against all the tariff items of heading 4811, the entry “12%” shall be substituted;

(k) in tariff item 4812 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(l) for the entry in column (4) occurring against all the tariff items of headings 4813, 4814 and 4816, the entry “12%” shall be substituted;

(m) in tariff items 4817 10 00 and 4817 20 00, for the entry in column (4), the entry “6%” shall be substituted;

(n) for the entry in column (4) occurring against all the tariff items of headings 4818,4819 (except 4819 2010), 4820, 4821, 4822 and 4823 (except 4823 90 11), the entry “12%” shall be substituted;

(37) in Chapter 49,-

(a) for the entry in column (4) occurring against all the tariff items of heading 4908, the entry “12%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of headings 4909 and 4910, the entry “6%” shall be substituted;

(38) in Chapter 50, for the entry in column (4) occurring against all the tariff items of headings 5004, 5005, 5006 and 5007, the entry “12%” shall be substituted;

(39) in Chapter 51, for the entry in column (4) occurring against all the tariff items of headings 5105, 5106, 5107, 5108, 5109, 5110, 5111, 5112 and 5113, the entry “12%” shall be substituted;

(40) in Chapter 52, for the entry in column (4) occurring against all the tariff items of headings 5204, 5205, 5206, 5207, 5208, 5209, 5210, 5211 and 5212, the entry “12%” shall be substituted;

(41) in Chapter 53, for the entry in column (4) occurring against all the tariff items of headings 5302, 5305, 5306, 5307 (except 5307 10 90), 5308 (except 5308 10 10, 5308 10 20 and 5308 10 90), 5309, 5310 and 5311, the entry “12%” shall be substituted;

(42) in Chapter 54, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(43) in Chapter 55, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(44) in Chapter 56, for the entry in column (4) occurring against all the tariff items of headings 5601, 5602, 5603, 5604, 5605, 5606, 5607, 5608 and 5609, the entry “12%” shall be substituted;

(45) in Chapter 57, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(46) in Chapter 58,-

(a) for the entry in column (4) occurring against all the tariff items of heading 5801 (except 5801 35 00), the entry “12%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of headings 5802, 5803 and 5804 (except 5804 30 00), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of heading 5805, the entry “6%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of heading 5806, the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of heading 5807, the entry “6%” shall be substituted;

(f) for the entry in column (4) occurring against all the tariff items of headings 5808, 5809, 5810 and 5811, the entry “12%” shall be substituted;

(47) in Chapter 59, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(48) in Chapter 60, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(49) in Chapter 61, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(50) in Chapter 62, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(51) in Chapter 63 –

(a) for the entry in column (4) occurring against all the tariff items of headings 6301, 6302, 6303, 6304, 6305, 6306 and 6307, the entry “12%” shall be substituted;

(b) in tariff item 6308 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(52) in Chapter 64, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(53) in Chapter 65 –

(a) for the entry in column (4) occurring against all the tariff items of headings 6501 and 6502, the entry “12%” shall be substituted;

(b) in tariff item 6504 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 6505 and 6506, the entry “12%” shall be substituted;

(d) in tariff item 6507 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(54) in Chapter 66 –

(a) for the entry in column (4) occurring against all the tariff items of heading 6601, the entry “6%” shall be substituted;

(b) in tariff item 6602 00 00, for the entry in column (4), the entry “6%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of heading 6603, the entry “12%” shall be substituted;

(55) in Chapter 67, for the entry in column (4) occurring against all the tariff items of headings 6702, 6703 and 6704, the entry “12%” shall be substituted;

(56) in Chapter 68, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(57) in Chapter 69,-

(a) for the entry in column (4) occurring against all the tariff items (except 6901 00 10 and 6904 10 00), the entry “12%” shall be substituted;

(b) in tariff items 6901 00 10 and 6904 10 00, for the entry in column (4), the entry “6%” shall be substituted;

(58) in Chapter 70,-

(a) for the entry in column (4) occurring against all the tariff items (except 7012 00 00, 7018 10 10, 7018 10 20, 7020 00 11, 7020 00 12 and 7020 00 21), the entry “12%” shall be substituted;

(b) in tariff items 7020 00 11, 7020 00 12 and 7020 00 21, for the entry in column (4), the entry “6%” shall be substituted;

(59) in Chapter 71 –

(a) for Note 13, the following Note shall be substituted, namely:-

’13. For the purposes of headings 7113 and 7114, the processes of affixing or embossing trade name or brand name on articles of jewellery or on articles of goldsmiths’ or silversmiths’ wares of precious metal or of metal clad with precious metal, shall amount to “manufacture”.’;

(b) for the entry in column (4) occurring against all the tariff items of heading 7101, 7103, 7104 (except 7104 10 00), 7105 and 7106, the entry “12%” shall be substituted;

(c) in tariff item 7104 10 00, for the entry in column (4), the entry “6%” shall be substituted;

(d) in tariff item 7107 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of heading 7108, the entry “12%” shall be substituted;

(f) in tariff item 7109 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(g) for the entry in column (4) occurring against all the tariff items of heading 7110, the entry “12%” shall be substituted;

(h) in tariff item 7111 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(i) for the entry in column (4) occurring against all the tariff items of headings 7112, 7113, 7114, 7115 and 7116, the entry “12%” shall be substituted;

(j) for the entry in column (4) occurring against all the tariff items of heading 7117, the entry “6%” shall be substituted ;

(k) for the entry in column (4) occurring against all the tariff items of heading 7118, the entry “12%” shall be substituted ;

(60) in Chapter 72 –

(a) after Note 5, the following Note shall be inserted, namely:-

‘6. In relation to the products of heading 7208, the process of oiling and pickling shall amount to “manufacture”.’;

(b) for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(61) in Chapter 73, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(62) in Chapter 74,-

(a) in headings 7401, 7402 and 7403, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(b) in heading 7404 –

(i) in tariff item 7404 00 11, for the entry in column (4), the entry “12%” shall be substituted;

(ii) in tariff item 7404 00 12 –

(A) in the entry in column (2), for the words “ISRI code word ‘Palms’ “, the following words shall be substituted, namely:-

“ISRI code word ‘Palms’;

miscellaneous copper-containing skimmings, grindings, ashes, irony brass and copper, residues and slags covered by ISRI code word ‘Drove’;

copper wire scrap with various types of insulation covered by ISRI code word ‘Druid’ “;

(B) for the entry in column (4), the entry “12%” shall be substituted;

(iii) in tariff item 7404 00 19 and 7404 00 21, for the entry in column (4), the entry “12%” shall be substituted;

(iv) in tariff item 7404 00 22 –

(A) in the entry in column (2), for the words “ISRI code word ‘Parch’ “, the following words shall be substituted, namely:-

“ISRI code word ‘Parch’;

high grade-low lead bronze/brass solids covered by ISRI code word ‘Eland’;

high lead bronze solids and borings covered by ISRI code word ‘Elias’;

clean fired 70/30 brass shell cases free of primers and any other foreign material covered by ISRI code word ‘Lace’;

clean fired 70/30 brass shell cases containing the brass primers, and containing no other foreign material covered by ISRI code word ‘Lady’;

clean fired 70/30 brass shells free of bullets, iron and any other foreign material covered by ISRI code word ‘Lake’;

clean muffled (popped) 70/30 brass shells free of bullets, iron and any other foreign material covered by ISRI code word ‘Lamb'”;

(B) for the entry in column (4), the entry “12%” shall be substituted;

(v) in tariff items 7404 00 23 and 7404 00 29, for the entry in column (4), the entry “12%” shall be substituted;

(c) in tariff item 7405 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(d) in headings 7406, 7407, 7408, 7409, 7410, 7411 and 7412, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(e) in tariff item 7413 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(f) for the entry in column (4) occurring against all the tariff items of headings 7415, 7418 and 7419, the entry “12%” shall be substituted;

(63) in Chapter 75 –

(a) for the entry in column (4) occurring against all the tariff items of headings 7501 and 7502, the entry “12%” shall be substituted;

(b) in tariff item 7503 00 10,-

(A) in the entry in column (2), for the words ”other floating structures”, the following words shall be substituted, namely:-

“other floating structures;

nickel-iron batteries to be sold free of crates, copper terminal connectors and excess liquid, must be free of nickel cadmium batteries covered by ISRI code word ‘Vaunt'”;

(B) for the entry in column (4), the entry “12%” shall be substituted;

(c) in tariff items 7503 00 90 and 7504 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of headings 7505, 7506, 7507 and 7508, the entry “12%” shall be substituted;

(64) in Chapter 76,-

(a) after Note 2, the following Note shall be inserted, namely:-

‘3. In relation to the products of heading 7607, the process of cutting, slitting and printing of aluminum foils shall amount to “manufacture”.’;

(b) for the entry in column (4) occurring against all the tariff items of heading 7601, the entry “12%” shall be substituted;

(c) in heading 7602,-

(i) in tariff item 7602 00 10,-

(A) in column (2),-

(I) for the words “ISRI code word ‘Talap’ “, the words “ISRI code word ‘Talc’ “shall be substituted;

(II) for the words “ISRI code word Tanri’ “, the words “ISRI code word ‘Tann’ “shall be substituted;

(III) for the words “old aluminium foil covered by ISRI code word Testy'”, the words “new aluminium foil covered by ISRI code word Tetra’ old aluminium foil covered by ISRI code word ‘Tesla’;” shall be substituted;

(IV) for the word “ISRI code word Twang'”, the following words and brackets shall be substituted, namely;-

“ISRI code word ‘Twang’;

aluminium auto or truck wheels covered by ISRI code word ‘Troma’;

fragmentizer aluminium scrap from automobile shredders covered by ISRI code word ‘Tweak’;

burnt Fragmentizer aluminium scrap (from automobile shredders) covered by ISRI code word ‘Twire’;

shredded non-ferrous scrap (predominantly aluminium) covered by ISRI code word ‘Zorba’;

aluminium drosses, spatterns, spellings, skimmings and sweepings covered by ISRI code word ‘Thirl’;

new production aluminium extrusions covered by ISRI code word ‘Tata’;

all aluminium radiators from automobiles covered by ISRI code word ‘Tally’;

aluminium extrusions ’10/10′ covered by ISRI code word ‘Toto’;

aluminium extrusions dealer grade covered by the word ‘Tutu'”;

(B) for the entry in column (4), the entry “12%” shall be substituted;

(ii) in tariff item 7602 00 90, for the entry in column (4), the entry “12% shall be substituted;

(iii) for the entry in column (4), occurring against all the tariff items of headings 7603, 7604, 7605, 7606, 7607 and 7608, the entry “12%” shall be substituted;

(iv) in tariff item 7609 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(v) for the entry in column (4), occurring against all the tariff items of heading 7610, the entry “12%” shall be substituted;

(vi) in tariff item 7611 00 00, for the entry in column (4), the entry “12% shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of headings 7612, 7613, 7614, 7615 and 7616, the entry “12%” shall be substituted;

(65) in Chapter 78,-

(a) for the entry in column (4) occurring against all the tariff items of heading 7801, the entry “12%” shall be substituted;

(b) in tariff item 7802 00 10 –

(i) in the entry in column (2), for the words “ISRI code word ‘Roses'”, the following words shall be substituted, namely:-

“ISRI code word ‘Roses’;

lead battery plates whether automotive, industrial or mixed covered by ISRI code word ‘Rails’;

battery lugs free of scrap lead, wheel weights, battery plates, rubber or plastic case material and other foreign material covered by ISRI code word ‘Rakes’;

lead covered copper cable free of armoured covered cable and foreign material covered by ISRI code word ‘Relay’;

lead dross covered by ISRI code word ‘Rents’;

(ii) for the entry in column (4), the entry “12%” shall be substituted;

(c) in tariff item 7802 00 90, for the entry in column (4), the entry “12%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of headings 7804 and 7806, the entry “12%” shall be substituted;

(66) in Chapter 79-

(a) for the entry in column (4) occurring against all the tariff items of heading 7901, the entry “12%” shall be substituted;

(b) in tariff item 7902 00 10-

(i) in the entry in column (2), for the word ‘oxidation’, the following words shall be substituted, namely:-

“oxidation;

unsorted zinc die cast scrap produced from automobile fragmentizers containing about 55% zinc-bearing scrap covered by ISRI code word ‘Scroll'”;

(ii) for the entry in column (4), the entry “12%” shall be substituted;

(c) in tariff item 7902 00 90, for the entry in column (4), the entry “12%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of headings 7903,7904, 7905 and 7907, the entry “12%” shall be substituted;

(67) in Chapter 80, for the entry in column (4) occurring against all the tariff items of headings 8001, 8002, 8003 and 8007, the entry “12%” shall be substituted;

(68) in Chapter 81, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(69) in Chapter 82 –

(a) for the entry in column (4) occurring against all the tariff items of headings 8201, 8202, 8203, 8204, 8205, 8206, 8207, 8208 and 8209, the entry “12%” shall be substituted;

(b) in tariff item 8210 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 8211 and 8212, the entry “12%” shall be substituted;

(d) in tariff item 8213 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of heading 8214, the entry “12%” shall be substituted;

(f) for the entry in column (4) occurring against all the tariff items of heading 8215, the entry “6%” shall be substituted;

(70) in Chapter 83, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(71) in Chapter 84 –

(a) for the entry in column (4) occurring against all the tariff items of headings 8401 to 8423, 8424 (except 8424 81 00), 8425 to 8431, 8434, 8435, 8438 to 8451 and 8452 (except 8452 10 12, 8452 10 22, 8452 30 10, 8452 30 90, 8452 90 11, 8452 90 19, 8452 90 91 and 8452 90 99), the entry “12%” shall be substituted;

(b) in tariff items 8452 10 12, 8452 10 22, 8452 30 10, 8452 30 90, 8452 90 11, 8452 90 19, 8452 90 91 and 8452 90 99, for the entry in column (4), the entry “6%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 8453 to 8468, 8469 (except 8469 00 30 and 8469 00 40), 8470 to 8478 and 8479 (except 8479 89 91 and 8479 89 92), the entry “12%” shall be substituted;

(d) in tariff item 8479 89 92, for the entry in column (4), the entry “6%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of headings 8480 to 8484, 8486 and 8487, the entry “12%” shall be substituted;

(72) in Chapter 85,-

(a) after Note 10, the following Note shall be inserted, namely:-

’11. The processes of matching, batching and charging of Lithium ion batteries or the making of battery packs shall amount to “manufacture”.’;

(b) for the entry in column (4) occurring against all the tariff items of headings 8501 to 8519, 8521, 8522, 8523, 8525 to 8533, the entry “12%” shall be substituted;

(c) in tariff item 8534 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of headings 8535 to 8547 the entry “12%” shall be substituted;

(e) in tariff item 8548 90 00, for the entry in column (4), the entry “12%” shall be substituted;

(73) in Chapter 86

(a) for the entry in column (4) occurring against all the tariff items of headings 8601 to 8606 (except 8604 00 00), the entry “6%” shall be substituted;

(b) in tariff item 8604 00 00, and n all the tariff items of headings 8607, 8608 and in tariff item 8609 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(74) in Chapter 87,-

(a) for the entry in column (4) occurring against all the tariff items of heading 8701, the entry “12%” shall be substituted;

(b) in tariff items 8702 10 11, 8702 10 12 and 8702 1019, for the entry in column (4), the entry “27%” shall be substituted;

(c) in tariff items 8702 10 91 to 8702 10 99, for the entry in column (4), the entry “12%” shall be substituted;

(d) in tariff items 8702 90 11 and 8702 90 12, for the entry in column (4), the entry “27%” shall be substituted;

(e) in tariff item 8702 90 13, for the entry in column (4), the entry “12%” shall be substituted;

(f) in tariff item 8702 90 19, for the entry in column, (4), the entry “27%” shall be substituted;

(g) in tariff items 8702 90 20 to 8702 90 99, for the entry in column (4), the entry “12%” shall be substituted;

(h) in tariff item 8703 10 10, for the entry in column (4), the entry “12%” shall be substituted;

(i) in tariff items 8703 10 90 to 8703 22 99, for the entry in column (4), the entry “24%” shall be substituted;

(j) in tariff item 8703 23 10, for the entry in column (4), the entry “27%” shall be substituted;

(k) in tariff item 8703 23 20, for the entry in column (4), the entry “24%” shall be substituted;

(l) in tariff items 8703 23 91, 8703 23 92, 8703 23 99 and 8703 24 10, for the entry in column (4), the entry “27%” shall be substituted;

(m) in tariff item 8703 24 20, in the entry in column (4), the entry “24%” shall be substituted;

(n) in tariff items 8703 24 91 to 8703 24 99, for the entry in column (4), the entry “27%” shall be substituted;

(o) in tariff items 8703 31 10 to 8703 31 99, for the entry in column (4), the entry “24%” shall be substituted;

(p) in tariff item 8703 32 10, for the entry in column (4), the entry “27%” shall be substituted;

(q) in tariff item 8703 32 20, for the entry in column (4), the entry “24%” shall be substituted;

(r) in tariff items 8703 32 91 to 8703 33 10, for the entry in column (4), the entry “27%” shall be substituted:

(s) in tariff item 8703 33 20, for the entry in column (4), the entry “24%” shall be substituted;

(t) in tariff items 8703 33 91 to 8703 33 99, for the entry in column (4), the entry “27%” shall be substituted;

(u) in tariff item 8703 90 10, for the entry in column (4), the entry “12%” shall be substituted;

(v) in tariff item 8703 90 90, for the entry in column (4), the entry “27%” shall be substituted;

(w) in tariff item 8704 10 10, for the entry in column (4), the entry “12%” shall be substituted;

(x) in tariff item 8704 10 90, for the entry in column (4), the entry “24%” shall be substituted;

(y) in tariff items 8704 21 10 to 8704 31 20, for the entry in column (4), the entry “12%” shall be substituted;

(z) in tariff item 8704 31 90, for the entry in column (4), the entry “24%” shall be substituted;

(za) in tariff item 8704 32 11, for the entry in column (4), the entry “12%” shall be substituted;

(zb) in tariff items 8704 32 19 and 8704 32 90, for the entry in column (4), the entry “24%” shall be substituted;

(zc) in tariff items 8704 90 11 and 8704 90 12, for the entry in column (4), the entry “12%” shall be substituted;

(zd) in tariff items 8704 90 19 and 8704 90 90, for the entry in column (4), the entry “24%” shall be substituted;

(ze) for the entry in column (4) occurring against all the tariff items of heading 8705, the entry “12%” shall be substituted;

(zf) in tariff items 8706 00 11 and 8706 00 19, for the entry in column (4), the entry “12%” shall be substituted;

(zg) in tariff item 8706 00 21, for the entry in column (4), the entry “24%” shall be substituted;

(zh) in tariff item 8706 00 29, for the entry in column (4), the entry “15%” shall be substituted;

(zi) in tariff item 8706 00 31, for the entry in column (4), the entry “12%” shall be substituted;

(zj) in tariff item 8706 00 39, for the entry in column (4), the entry “24%” shall be substituted;

(zk) in tariff item 8706 00 41, for the entry in column (4), the entry “12%” shall be substituted;

(zl) in tariff item 8706 00 42, for the entry in column (4), the entry “15%” shall be substituted;

(zm) in tariff items 8706 00 43 and 8706 00 49, for the entry in column (4), the entry “25%” shall be substituted;

(zn) in tariff item 8706 00 50, for the entry in column (4), the entry “12%” shall be substituted;

(zo) for the entry in column (4) occurring against all the tariff items of headings 8707 to 8709, the entry “12%” shall be substituted;

(zp) in tariff item 8710 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(zq) for the entry in column (4) occurring against all the tariff items of headings 8711, 8712, 8714, 8715 and 8716, the entry “12%” shall be substituted;

’75) in Chapter 88,-

(a) for the entry in column (4) occurring against all the tariff items of headings 8801, the entry “6%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of headings 8802 (except 8802 60 00) and 8803, the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 8804 and 8805, the entry “6%” shall be substituted;

(76) in Chapter 89 –

(a) for the entry in column (4) occurring against all the tariff items of heading 8901, the entry “6%” shall be substituted;

(b) for the entry in column (4) occurring against all the tariff items of heading 8903, the entry “12%” shall be substituted;

(c) in tariff item 8904 00 00, for the entry in column (4), the entry “6%” shall be substituted;

(d) for the entry in column (4) occurring against all the tariff items of heading 8905, the entry “6%” shall be substituted;

(e) in tariff item 8906 90 00, for the entry in column (4), the entry “6%” shall bo substituted;

(f) for the entry in column (4) occurring against all the tariff items of heading 8907, the entry “12%” shall be substituted;

(g) in tariff item 8908 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(77) in Chapter 90 –

(a) for the entry in column (4) occurring against all the tariff items of heading 9001 (except 9001 40 10, 9001 40 90 and 9001 50 00), the entry “12%” shall be substituted;

(b) in tariff items 9001 40 10, 9001 40 90 and 9001 50 00, for the entry in column (4), the entry “6%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 9002 to 9008, 9010 to 9016 and 9017 (except 9017 20 10, 9017 20 20, 9017 20 30 and 9017 20 90), the entry “12%” shall be substituted;

(d) in tariff items 9017 20 10, 9017 20 20, 9017 20 30 and 9017 20 90, for the entry in column (4), the entry “6%” shall be substituted;”

(e) for the entry in column (4) occurring against all the tariff items of headings 9018 and 9019, the entry “12%” shall be substituted;

(f) in tariff item 9020 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(g) for the entry in column (4) occurring against all the tariff items of headings 9022 to 9032, the entry “12%” shall be substituted;

(h) in tariff item 9033 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(78) in Chapter 91, for the entry in column (4) occurring against all the tariff items, the entry “12%” shall be substituted;

(79) in Chapter 92,-

(a) for the entry in column (4) occurring against all the tariff items of headings 9201, 9202 and 9205, the entry “12%” shall be substituted;

(b) in tariff item 9206 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 9207 to 9209, the entry “12%” shall be substituted;

(80) in Chapter 93,-

(a) for the entry in column (4) occurring against all the tariff items of heading 9301, the entry “6%” shall be substituted;

(b) in tariff item 9302 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of heading 9303, the entry “12%” shall be substituted;

(d) in tariff item 9304 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of headings 9305 and 9306, the entry “12%” shall be substituted;

(f) in tariff item 9307 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(81) in Chapter 94,-

(a) for the entry in column (4) occurring against all the tariff items (except 9405 50 10), the entry “12%” shall be substituted;

(b) in tariff item 9405 50 10, for the entry in column (4), the entry “6%” shall be substituted;

(82) in Chapter 95, for the entry in column (4) occurring against all the tariff items of headings 9503 to 9508 (except 9508 10 00), the entry “12%” shall be substituted;

(83) in Chapter 96 –

(a) for the entry in column (4) occurring against all the tariff items of headings 9601 to 9603, the entry “12%” shall be substituted;

(b) in tariff item 9604 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(c) for the entry in column (4) occurring against all the tariff items of headings 9605, 9606 (except 9606 21 00, 9606 22 00, 9606 29 10, 9606 29 90 and 9606 30 10), 9607 and 9608, the entry “12%” shall be substituted;

(d) in tariff items 9606 21 00, 9606 22 00, 9606 29 10, 9606 29 90 and 9606 30 10, for the entry in column (4), the entry “6%” shall be substituted;

(e) for the entry in column (4) occurring against all the tariff items of heading 9609, the entry “6%” shall be substituted;

(f) in tariff item 9611 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(g) for the entry in column (4) occurring against all the tariff items of headings 9612 and 9613, the entry “12%” shall be substituted;

(h) in tariff item 9614 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(i) for the entry in column (4) occurring against all the tariff items of headings 9616 and 9617, the entry “12%” shall be substituted;

(j) in tariff item 9618 00 00, for the entry in column (4), the entry “12%” shall be substituted;

(k) for the entry in column (4) occurring against all the tariff items of heading 9619, the entry “6%” shall be substituted.

THE EIGHTH SCHEDULE
(See section 144)

Provisions of CENVAT Credit Rules, 2004 to be amended

 

Amendment

Period of effect of amendment

(1)

(2)

(3)

Sub-rule (6A) of rule 6 of the CENVAT Credit Rules, 2004 as inserted by CENVAT Credit (Amendment) Rules, 2011 vide notification number G.S.R. 134(E), dated the 1st March, 2011 [3/2011-Central Excise (N.T.), dated the 1st March, 2011]. In the CENVAT Credit Rules, 2004, in rule 6, after sub-rule (6), the following sub-rule shall be inserted with effect from the 10th day of February, 2006, namely:-“(6A) The provisions of sub-rules (1), (2), (3) and (4) shall not be applicable in case the taxable services are provided, without payment of service tax, to a Unit in a Special Economic Zone or to a Developer of a Special Economic Zone for their authorised operations.”. From 10th February, 2006 to 28th February, 2011.

THE NINTH SCHEDULE
(See section 152)

In the Seventh Schedule to the Finance Act, 2001, in the entry in column (2) occurring against the tariff items 2402 20 10, 2402 20 20, 2402 20 30 and 2402 20 40, for the figures and word “60 millimetres”, the figures and word “65 millimetres” shall respectively be substitutd.

THE TENTH SCHEDULE
(See section 154)

In the Seventh Schedule to the Finance Act, 2005, in the entry in column (2) occurring against the tariff items 2402 20 10, 2402 20 20, 2402 20 30 and 2402 20 40, for the fig

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