MINISTRY OF LAW AND JUSTICE

MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi

Dated: August 6, 2014

The following Act of Parliament received the assent of the President on the 6th August, 2014, and is hereby published for general information:—

THE FINANCE (No. 2) ACT, 2014

(NO. 25 OF 2014 )

An Act to give effect to the financial proposals of the Central Government for the financial year 2014-2015.

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

CHAPTER I

PRELIMINARY

Short title and commencement.

1. (1) This Act may be called the Finance (No. 2) Act, 2014.

(2) Save as otherwise provided in this Act, sections 2 to 77 shall be deemed to have come into force on the 1st day of April, 2014.

CHAPTER IV

INDIRECT TAXES

Customs

Substitution of new authorities.

78. In the Customs Act, 1962 (hereinafter referred to as the Customs Act), or in any other law for the time being in force, the reference to any authority specified in column (1) of the Table below shall be substituted by reference to the authority or authorities specified in the corresponding entry in column (2) of the said Table and such consequential changes as the rules of grammar may require shall also be made:— (52 of 1962)

TABLE

Sl. No.

(1)

(2)

Chief Commissioner of Central Excise

Principal Chief Commissioner of

Central Excise

Chief Commissioner of Central Excise

Commissioner of Central Excise

Principal Commissioner of

Central Excise

Commissioner of Central Excise.

Amendment of section 3.

79. In the Customs Act, in section 3, for clauses (a), (b), (c), (cc), (d), (e) and (f), the following clauses shall be substituted, namely:—

“(a) Principal Chief Commissioners of Customs;

(b) Chief Commissioners of Customs;

(d) Commissioners of Customs;

(e) Commissioners of Customs (Appeals);

(f) Joint Commissioners of Customs;

(g) Deputy Commissioners of Customs;

(h) Assistant Commissioners of Customs;

(i) such other class of officers of customs as may be appointed for the purposes of this Act.”.

Amendment of section 15.

80. In the Customs Act, in section 15, in sub-section (1), in the proviso, after the words “the aircraft”, the words “or the vehicle” shall be inserted.

Amendment of section 25.

81. In the Customs Act, in section 25, after sub-section (6), the following sub-sections shall be inserted, namely:—

“(7) The mineral oils (including petroleum and natural gas) extracted or produced in the continental shelf of India or exclusive economic zone of India as referred to in section 6 and section 7, respectively, of the Territorial Waters, Continental Shelf, Exclusive Economic Zone and Other Maritime Zones Act, 1976, and imported prior to the 7th day of February, 2002 shall be deemed to be and shall always be deemed to have been exempted from the whole of the duties of customs leviable on such mineral oils and accordingly, notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority, no suit or other proceedings in respect of such mineral oils shall be maintained or continued in any court, tribunal or other authority. (80 of 1976)

(8) Notwithstanding the exemption provided under sub-section (7), no refund of duties of customs paid in respect of the mineral oils specified therein shall be made.”.

Amendment of section 46.

82. In the Customs Act, in section 46, in sub-section (3),—

(i) the first proviso shall be omitted;

(ii) for the second proviso, the following proviso shall be substituted, namely:—

“Provided that a bill of entry may be presented even before the delivery of such manifest or report, if the vessel or the aircraft or the vehicle by which the goods have been shipped for importation into India is expected to arrive within thirty days from the date of such presentation.”.

Amendment of section 127A.

83. In the Customs Act, in section 127A, in clause (f), for the words “Customs and Central Excise Settlement Commission”, the words “Customs, Central Excise and Service Tax Settlement Commission” shall be substituted.

Amendment of section 127B.

84. In the Customs Act, in section 127B,—

(i) in sub-section (1), in the first proviso, for clause (a), the following clause shall be substituted, namely:—

“(a) the applicant has filed a bill of entry, or a shipping bill, or a bill of export, or made a baggage declaration, or a label or declaration accompanying the goods imported or exported through post or courier, as the case may be, and in relation to such document or documents, a show cause notice has been issued to him by the proper officer;”;

(ii) in clause (c), for the word, figures and letters “section 28AB”, the word, figures and letters “section 28AA” shall be substituted;

(iii) sub-section (2) shall be omitted.

Amendment of section 127L.

85. In the Customs Act, in section 127L, in sub-section (1), in clause (i), the following Explanation shall be inserted, namely:—

“Explanation.— In this clause, the concealment of particulars of duty liability relates to any such concealment made from the officer of customs.”.

Amendment of section 129A.

86. In the Customs Act, in section 129A,—

(i) in sub-section (1), in the second proviso, for the words “fifty thousand rupees”, the words “two lakh rupees” shall be substituted;

(ii) in sub-section (1B), in clause (i), for the words “by notification in the Official Gazette”, the words “by order” shall be substituted;

(iii) in sub-section (7), in clause (a), the words “for grant of stay or” shall be omitted.

Amendment of section 129B.

87. In the Customs Act, in section 129B, in sub-section (2A), the first, second and third proviso shall be omitted.

Amendment of section 129D.

88. In the Customs Act, in section 129D, in sub-section (3), the following proviso shall be inserted, namely:—

“Provided that the Board may, on sufficient cause being shown, extend the said period by another thirty days.”.

Substitution of new section for section 129E.

89. In the Customs Act, for section 129E, the following section shall substituted, namely:—

Deposit of certain percentage of duty demanded or penalty imposed before filing appeal.

“129E. The Tribunal or the Commissioner (Appeals), as the case may be, shall not entertain any appeal,—

(i) under sub-section (1) of section 128, unless the appellant has deposited seven and a half per cent. of the duty, in case where duty or duty and penalty are in dispute, or penalty, where such penalty is in dispute, in pursuance of a decision or an order passed by an officer of customs lower in rank than the Commissioner of Customs;

(ii) against the decision or order referred to in clause (a) of sub-section (1) of section 129A, unless the appellant has deposited seven and a half per cent. of the duty, in case where duty or duty and penalty are in dispute, or penalty, where such penalty is in dispute, in pursuance of the decision or order appealed against;

(iii) against the decision or order referred to in clause (b) of sub-section (1) of section 129A, unless the appellant has deposited ten per cent. of the duty, in case where duty or duty and penalty are in dispute, or penalty, where such penalty is in dispute, in pursuance of the decision or order appealed against:

Provided that the amount required to be deposited under this section shall not exceed rupees ten crores:

Provided further that the provisions of this section shall not apply to the stay applications and appeals pending before any appellate authority prior to the commencement of the Finance (No. 2) Act, 2014.’’.

Substitution of new section for section 129EE.

90. In the Customs Act, for section 129EE, the following section shall be substituted, namely:—

Interest on delayed refund of amount deposited under section 129E.

"129EE. Where an amount deposited by the appellant under section 129E is required to be refunded consequent upon the order of the appellate authority, there shall be paid to the appellant interest at such rate, not below five per cent. and not exceeding thirty-six per cent. per annum as is for the time being fixed by the Central Government, by notification in the Official Gazette, on such amount from the date of payment of the amount till, the date of refund of such amount:

Provided that the amount deposited under section 129E, prior to the commencement of the Finance (No. 2) Act, 2014, shall continue to be governed by the provisions of section 129EE as it stood before the commencement of the said Act.".

Amendment of section 131BA.

91. In the Customs Act, in section 131BA, in sub-section (4), for the words “The Appellate Tribunal or court”, the words and brackets “The Commissioner (Appeals) or the Appellate Tribunal or the court” shall be substituted.

Amendment of notification issued under section 25 of Customs Act.

92. (1) The notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 185 (E), dated the 17th March, 2012, issued under sub-section (1) of section 25 of the Customs Act, as specified in column (1) of the Second Schedule, shall stand amended and shall be deemed to have been amended retrospectively, in the manner specified in column (2) of that Schedule, on and from and up to the corresponding date specified in column (3) of the said Schedule.

(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 with retrospective effect as if the Central Government had the power to amend the said notification under sub-section (1) of section 25 of the Customs Act retrospectively, at all material times.

(3) The refund shall be made of all such duty of customs which has been collected but which would not have been so collected, had the notification referred to in sub-section (1) been in force at all material times, subject to the provision of section 27 of the Customs Act.

(4) Notwithstanding anything contained in section 27 of the Customs Act, an application for the claim of refund of duty of customs under sub-section (3) shall be made within the period of six months from the date on which the Finance (No. 2) Bill, 2014 receives the assent of the President.

(5) 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 notification referred to in sub-section (1) not been amended retrospectively.

Explanation.— For the purposes of sub-section (1), the “corresponding date”, in relation to tariff items specified against S.No.141, means the 8th February, 2013 to 10th July, 2014 (both days inclusive).

Customs Tariff

Amendment of section 8B.

93. In the Customs Tariff Act, 1975 (hereinafter referred to as the Customs Tariff Act), in section 8B, in sub-section (2A),— (51 of 1975)

(a) for the portion beginning with the words “unless specifically made applicable” and ending with the words “in a special economic zone”, the following shall be substituted, namely:—

“shall not apply to articles imported by a hundred per cent. export-oriented undertaking or a unit in a special economic zone unless,—

(i) specifically made applicable in such notifications or such impositions, as the case may be; or

(ii) the article imported is either cleared as such into the domestic tariff area or used in the manufacture of any goods that are cleared into the domestic tariff area and in such cases safeguard duty shall be levied on that portion of the article so cleared or so used as was leviable when it was imported into India.”;

(b) in the Explanation, the words “free trade zone” shall be omitted.

Amendment of First Schedule.

94. In the Customs Tariff Act, the First Schedule shall be amended in the manner specified in the Third Schedule.

Excise

Substitution of new authorities.

95. In the Central Excise Act, 1944 (hereinafter referred to as the Central Excise Act) or in Chapter V of the Finance Act, 1994 or in any other law for the time being in force, the reference to any authority specified in column (1) of the Table below shall be substituted by reference to the authority or authorities specified in the corresponding entry in column (2) of the said Table and such consequential changes as the rules of grammar may require shall also be made:— (1 of 1944. 32 of 1994)

Table

Sl. No.

(1)

(2)

Chief Commissioner of Central Excise

Principal Chief Commissioner of

Central Excise

Chief Commissioner of Central Excise

Commissioner of Central Excise

Principal Commissioner of

Central Excise

Commissioner of Central Excise.

Amendment of section 2.

96. In the Central Excise Act, in section 2, in clause (b), for the words “Chief Commissioner of Central Excise”, the words “Principal Chief Commissioner of Central Excise, Chief Commissioner of Central Excise, Principal Commissioner of Central Excise” shall be substituted.

Insertion of new sections 15A and 15B.

97. In the Central Excise Act, after section 15, the following sections shall be inserted, namely:—

Obligation to furnish information return

“15A. (1) Any person, being—

(a) an assessee; or

(b) a local authority or other public body or association; or

of value added tax or sales tax; or

(d) an income tax authority appointed under the provisions of the Incometax Act, 1961; or (43 of 1961)

(e) a banking company within the meaning of clause (a) of section 45A of the Reserve Bank of India Act, 1934; or (2 of 1934)

(f) a State Electricity Board or an electricity distribution or transmission licensee under the Electricity Act, 2003, or any other entity entrusted, as the case may be, with such functions by the Central Government or the State Government; or (36 of 2003)

(g) the Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908; or (16 of 1908)

(h) a Registrar within the meaning of the Companies Act, 2013; or (18 of 2013)

(i) the registering authority empowered to register motor vehicles under Chapter IV of the Motor Vehicles Act, 1988; or (59 of 1988)

(j) the Collector referred to in clause (c) of section 3 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013; or (30 of 2013)

(k) the recognised stock exchange referred to in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956; or (42 of 1956)

(l) a depository referred to in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996; or (22 of 1996)

(m) an officer of the Reserve Bank of India, constituted under section 3 of the Reserve Bank of India Act, 1934, (2 of 1934)

who is responsible for maintaining record of registration or statement of accounts or any periodic return or document containing details of payment of tax and other details or transaction of goods or services or transactions related to a bank account or consumption of electricity or transaction of purchase, sale or exchange of goods or property or right or interest in a property, under any law for the time being in force, shall furnish an information return of the same in respect of such periods, within such time, form (including electronic form) and manner, to such authority or agency as may be prescribed.

(2) Where the prescribed authority considers that the information submitted in the information return is defective, he may intimate the defect to the person who has furnished such information return and give him an opportunity of rectifying the defect within a period of thirty days from the date of such intimation or within such further period which, on an application made in this behalf, the prescribed authority may allow and if the defect is not rectified within the said period of thirty days or, as the case may be, the further period so allowed, then, notwithstanding anything contained in any other provision of this Act, such information return shall be treated as not submitted and the provisions of this Act shall apply.

(3) Where a person who is required to furnish information return has not furnished the same within the time specified in sub-section (1) or sub-section (2), the prescribed authority may serve upon him a notice requiring furnishing of such information return within a period not exceeding ninety days from the date of service of the notice and such person shall furnish the information return.

Penalty for failure to furnish information return.

15B. If a person who is required to furnish an information return under section 15A fails to do so within the period specified in the notice issued under sub-section (3) thereof, the prescribed authority may direct that such person shall pay, by way of penalty, a sum of one hundred rupees for each day of the period during which the failure to furnish such return continues.”.

Amendment of section 31.

98. In the Central Excise Act, in section 31, in clause (g), for the words “Customs and Central Excise Settlement Commission”, the words “Customs, Central Excise and Service Tax Settlement Commission” shall be substituted.

Amendment of section 32.

99. In the Central Excise Act, in section 32, in sub-section (1), for the words “the Customs and Central Excise Settlement Commission”, the words “the Customs, Central Excise and Service Tax Settlement Commission” shall be substituted.

Amendment of section 32E.

100. In the Central Excise Act, in section 32E,—

(i) in sub-section (1),—

(a) in the first proviso, in clause (d), for the word, figures and letters “section 11AB”, the word, figures and letters “section 11AA” shall be substituted;

(b) in the second proviso, for the words “Provided further that”, the following shall be substituted, namely:—

“Provided further that the Settlement Commission, if it is satisfied that the circumstances exist for not filing the returns referred to in clause

(a) of the first proviso to sub-section (1), may after recording the reasons therefor, allow the applicant to make such application:

Provided also that”;

(ii) sub-section (2) shall be omitted.

Amendment of section 32-O.

101. In the Central Excise Act, in section 32-O, in sub-section (1), in clause (i), the following Explanation shall be inserted, namely:—

“Explanation.— In this clause, the concealment of particulars of duty liability relates to any such concealment made from the Central Excise Officer.”.

Amendment of section 35B.

102. In the Central Excise Act, in section 35B,—

(a) in sub-section (1), in the second proviso, for the words “fifty thousand rupees”, the words “two lakh rupees” shall be substituted;

(b) in sub-section (1B), in clause (i), for the words “by notification in the Official Gazette”, the words “by order” shall be substituted;

Amendment of section 35C.

103. In the Central Excise Act, in section 35C, in sub-section (2A), the first, second and third proviso shall be omitted.

Amendment of section 35E.

104. In the Central Excise Act, in section 35E, in sub-section (3), the following proviso shall be inserted, namely:—

“Provided that the Board may, on sufficient cause being shown, extend the said period by another thirty days.”.

Substitution of new section for section 35F.

105. In the Central Excise Act, for section 35F, the following section shall be substituted, namely:—

Deposit of certain percentage of duty demanded or penalty imposed before filing appeal.

‘35F. The Tribunal or the Commissioner (Appeals), as the case may be, shall not entertain any appeal—

(i) under sub-section (1) of section 35, unless the appellant has deposited seven and a half per cent. of the duty, in case where duty or duty and penalty are in dispute, or penalty, where such penalty is in dispute, in pursuance of a decision or an order passed by an officer of Central Excise lower in rank than the Commissioner of Central Excise;

(ii) against the decision or order referred to in clause (a) of sub-section (1) of section 35B, unless the appellant has deposited seven and a half per cent. of the duty, in case where duty or duty and penalty are in dispute, or penalty, where such penalty is in dispute, in pursuance of the decision or order appealed against;

(iii) against the decision or order referred to in clause (b) of sub-section (1) of section 35B, unless the appellant has deposited ten per cent. of the duty, in case where duty or duty and penalty are in dispute, or penalty, where such penalty is in dispute, in pursuance of the decision or order appealed against: Provided that the amount required to be deposited under this section shall not exceed rupees ten crores:

Explanation.— For the purposes of this section “duty demanded” shall include,—

(i) amount determined under section 11D;

(ii) amount of erroneous Cenvat credit taken;

(iii) amount payable under rule 6 of the Cenvat Credit Rules, 2001 or the Cenvat Credit Rules, 2002 or the Cenvat Credit Rules, 2004.’.

Substitution of new section for section 35FF.

106. In the Central Excise Act, for section 35FF, the following section shall be substituted, namely:—

Interest on delayed refund of amount deposited under section 35F.

“35FF. Where an amount deposited by the appellant under section 35F is required to be refunded consequent upon the order of the appellate authority, there shall be paid to the appellant interest at such rate, not below five per cent. and not exceeding thirty-six per cent. per annum as is for the time being fixed by the Central Government, by notification in the Official Gazette, on such amount from the date of payment of the amount till, the date of refund of such amount:

Provided that the amount deposited under section 35F, prior to the commencement of the Finance (No. 2) Act, 2014, shall continue to be governed by the provisions of section 35FF as it stood before the commencement of the said Act.".

Amendment of section 35L.

107. In the Central Excise Act, section 35L shall be numbered as sub-section (1) thereof, and after sub-section (1) as so numbered, the following sub-section shall be inserted, namely:—

“(2) For the purposes of this Chapter, the determination of any question having a relation to the rate of duty shall include the determination of taxability or excisability of goods for the purpose of assessment.”.

Amendment of section 35R.

108. In the Central Excise Act, in section 35R, in sub-section (4), for the words “The

Appellate Tribunal or court”, the words “The Commissioner (Appeals) or the Appellate Tribunal or court” shall be substituted.

Amendment of Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Rules, 2008.

109. (1) In the Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Rules, 2008, as published in the Official Gazette vide notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 127 (E), dated the 1st July, 2008, rule 8 shall stand amended and shall be deemed to have been amended retrospectively, in the manner specified in column (2) of the Fourth Schedule, on and from the date specified in column (3) of that Schedule.

(2) For the purposes 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 sub-sections (2) and (3) of section 3A of the Central Excise Act, retrospectively, at all material times.

(3) The refund shall be made of all such duty of excise which has been collected but force at all material times, subject to the provisions of section 11B of the Central Excise Act.

(4) Notwithstanding anything contained in section 11B of the Central Excise Act, an application for the claim of refund of duty of excise under sub-section (3) shall be made within a period of six months from the date on which the Finance (No. 2) Bill, 2014 receives the assent of the President.

(5) 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 rule referred to in sub-section (1) not been amended retrospectively.

Amendment of notification number G.S.R. 95(E), dated 1st March, 2006 issued under section 5A of Central Excise Act.

110. (1) The notification of the Government of India in the Ministry of Finance

(Department of Revenue) number G.S.R. 95 (E), dated the 1st March, 2006 (herein referred to as the first notification) which was superseded vide number G.S.R. 163 (E), dated the 17th March, 2012 (herein referred to as the second notification), issued under sub-section (1) of section 5A of the Central Excise Act, shall, in so far as it relates to the first notification, stand amended and shall be deemed to have been amended retrospectively, in the manner as specified in column (2) of the Fifth Schedule, on and from—

(a) the 29th June, 2010 and up to 16th March, 2012 (both days inclusive) in relation to Chapter 54 or Chapter 55 specified therein, covered under the first notification, that is the date prior to the date of the second notification; and

(b) the 1st March, 2011 and up to 16th March, 2012 (both days inclusive) in relation to Chapter 71 specified therein, covered under the first notification, that is the date prior to the date of the second notification, as specified in column (3) of the Schedule, against the notification specified in column (1) of that Schedule.

(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 notification 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, retrospectively, at all material times.

(3) The refund shall be made of all such duty of excise which has been collected but which would not have been so collected, had the notification referred to in sub-section (1) been in force at all material times, subject to the provisions of section 11B of the Central Excise Act.

(4) Notwithstanding anything contained in section 11B of the Central Excise Act, an application for the claim of refund of duty of excise under sub-section (3) shall be made within six months from the date on which the Finance (No. 2) Bill, 2014 receives the assent of the President.

(5) 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. 163(E), dated 17th March, 2012 issued under section 5A of Central Excise Act.

111. (1) The notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 163 (E), dated the 17th March, 2012, issued under sub-section (1) of section 5A of the Central Excise Act, as specified in column (1) of the Sixth Schedule, shall stand amended and shall be deemed to have been amended retrospectively, in the manner specified in column (2) of that Schedule, on and from and up to the corresponding dates specified in column (3) of the said Schedule.

(4) Notwithstanding anything contained in section 11B of the Central Excise Act, an application for the claim of refund of duty of excise under sub-section (3) shall be made

within six months from the date on which the Finance (No. 2) Bill, 2014 receives the assent of the President.

(5) 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.

Explanation.— For the purposes of sub-section (1), the “corresponding date” in relation to—

(i) tariff items specified against S.No.81, means the 8th February, 2013 to 10th July, 2014 (both days inclusive); and

(ii) Chapters specified against S.No.172A, means the 17th March, 2012 to 10th July, 2014 (both days inclusive).

Amendment of Third Schedule.

112. In the Central Excise Act, the Third Schedule shall be amended in the manner specified in the Seventh Schedule.

Central Excise Tariff

Amendment of First Schedule

113. In the Central Excise Tariff Act, 1985, the First Schedule shall be amended in the manner specified in the Eighth Schedule. (5 of 1986.)

CHAPTER V

SERVICE TAX

Amendment of Act 32 of 1994.

114. In the Finance Act, 1994,—

(A) in section 65B, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint,—

(i) in clause (32), after the words “the rules made thereunder”, the words “but does not include radio taxi” shall be inserted;

(ii) after clause (39), the following clause shall be inserted, namely:—

‘(39a) “print media” means,—

(i) “book” as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867, but does not include business directories, yellow pages and trade catalogues which are primarily meant for commercial purposes; (25 of 1867)

(ii) “newspaper” as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867;’; (25 of 1867)

(B) in section 66D, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint,—

(i) for clause (g), the following clause shall be substituted, namely:—

“(g) selling of space for advertisements in print media;”;

(ii) in clause (o), for sub-clause (vi), the following sub-clause shall be substituted, namely:—

“(vi) metered cabs or auto rickshaws;”;

(C) in section 67A, for the Explanation, the following Explanation shall be substituted with effect from such date as the Central Government may, by notification in the Official Gazette, appoint, namely:—

‘Explanation.—For the purposes of this section, “rate of exchange” means the rate of exchange determined in accordance with such rules as may be prescribed.’;

(D) in section 73, after sub-section (4A), the following sub-section shall be inserted, namely:—

“(4B) The Central Excise Officer shall determine the amount of service tax due under sub-section (2)—

(a) within six months from the date of notice where it is possible to do so, in respect of cases whose limitation is specified as eighteen months in sub-section (1);

(b) within one year from the date of notice, where it is possible to do so, in respect of cases falling under the proviso to sub-section (1) or the proviso to sub-section (4A).”;

(E) in section 80, in sub-section (1), for the words, figures and brackets “section 77 or first proviso to sub-section (1) of section 78”, the words and figures “or section 77” shall be substituted;

(F) in section 82, for sub-section (1), the following sub-section shall be substituted, namely:—

“(1) Where the Joint Commissioner of Central Excise or Additional Commissioner of Central Excise or such other Central Excise officer as may be notified by the Board has reasons to believe that any documents or books or things, which in his opinion shall be useful for or relevant to any proceedings under this Chapter, are secreted in any place, he may authorise in writing any Central Excise officer to search for and seize or may himself search and seize such documents or books or things.”;

(G) in section 83,—

(i) for the words, brackets, figures and letter “sub-section (2) of section 9A”, the words, brackets, figures and letters “sub-section (2A) of section 5A, sub-section (2) of section 9A” shall be substituted;

(ii) for section “15”, the sections “15, 15A, 15B” shall be substituted;

(H) in section 86,—

(i) in sub-section (1A), in clause (i), for the words “by notification in the Official Gazette”, the words “by order” shall be substituted;

(ii) in sub-section (6A), in clause (a), the words “for grant of stay or” shall be omitted;

(I) in section 87, in clause (c), the following proviso shall be inserted, namely:—

“Provided that where the person (hereinafter referred to as predecessor) from whom the service tax or any other sums of any kind, as specified in this section, is recoverable or due, transfers or otherwise disposes of his business or trade in whole or in part, or effects any change in the ownership thereof, in consequence of which he is succeeded in such business or trade by any other person, all goods, in the custody or possession of the person so succeeding may also be attached and sold by such officer empowered by the Central Board of Excise and Customs, after obtaining the written approval of the Commissioner of Central Excise, for the purposes of recovering such service tax or other sums recoverable or due from such predecessor at the time of such transfer or otherwise disposal or change.”;

(J) in section 94, in sub-section (2), for clause (k), the following clauses shall be substituted, namely:—

“(k) imposition, on persons liable to pay service tax, for the proper levy and collection of the tax, of duty of furnishing information, keeping records and the manner in which such records shall be verified;

(l) make provisions for withdrawal of facilities or imposition of restrictions (including restrictions on utilisation of CENVAT credit) on provider of taxable service or exporter, for dealing with evasion of tax or misuse of CENVAT credit;

(m) authorisation of the Central Board of Excise and Customs or Chief Commissioners of Central Excise to issue instructions, for any incidental or supplemental matters for the implementation of the provisions of this Act;

(n) any other matter which by this Chapter is to be or may be prescribed.”;

(K) in section 95, after sub-section (1J), the following sub-section shall be inserted, namely:—

“(1K) If any difficulty arises in giving effect to section 114 of the Finance (No. 2) Act, 2014, in so far as it relates to amendments made by the said Act, in this Chapter, the Central Government may, by an order, published in the Official Gazette, not inconsistent with the provisions of this Chapter, remove the difficulty:

Provided that no such order shall be made after the expiry of a period of one year from the date on which the Finance (No. 2) Bill, 2014 receives the assent of the President.”;

(L) after section 99, the following section shall be inserted, namely:—

Special provision for taxable services provided by Employees’ State Insurance Corporation.

“100. Notwithstanding anything contained in section 66 as it stood prior to the 1st day of July, 2012, no service tax shall be levied or collected in respect of taxable services provided by the Employees’ State Insurance Corporation set up under the Employees’ State Insurance Act, 1948, during the period prior to the 1st day of July, 2012.”. (34 of 1948)

CHAPTER VI

Miscellaneous

Amendment of Act 14 of 2001.

115. In the Seventh Schedule to the Finance Act, 2001, the tariff item 2402 20 60 and the entries relating thereto shall be omitted.

Amendment of section 13 of Act 58 of 2002.

116. In the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, in section 13, in sub-section (1), for the words, figures and letters “the 31st day of March, 2014”, the words, figures and letters “the 31st day of March, 2019” shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2014.

Amendment of Finance (No. 2) Act, 2004.

117. In the Finance (No. 2) Act, 2004, in Chapter VII, with effect from the 1st day of October, 2014,— (23 of 2004)

(A) in section 97,—

(i) after clause (3), the following clause shall be inserted, namely:—

‘(3A) “business trust” shall have the meaning assigned to it in clause (13A) of section 2 of the Income-tax Act, 1961;’; (43 of 1961)

(ii) in clause (13), in sub-clause (a), after the words “unit of an equity oriented fund”, the words “or a unit of a business trust” shall be inserted;

(B) in section 98, in the Table, in column (2),—

(I) in the entry at Sl. No. 1,—

(i) after the words “equity share in a company”, the words “or a unit of a business trust” shall be inserted;

(ii) in clause (b), after the word “share” at both the places where it occurs, the words “or unit” shall be inserted;

(II) in the entry at Sl.No. 2,—

(i) after the words “equity share in a company”, the words “or a unit of a business trust” shall be inserted;

(ii) in clause (13), in sub-clause (a), after the words “unit of an equity oriented fund”, the words “or a unit of a business trust” shall be inserted;

(B) in section 98, in the Table, in column (2),—

(I) in the entry at Sl. No. 1,—

(i) after the words “equity share in a company”, the words “or a unit of a business trust” shall be inserted;

(ii) in clause (b), after the word “share” at both the places where it occurs, the words “or unit” shall be inserted;

(II) in the entry at Sl.No. 2,—

(i) after the words “equity share in a company”, the words “or a unit of a business trust” shall be inserted;

Amendment of Act 18 of 2005.

118. In the Finance Act, 2005,—

(a) in section 85, in the marginal heading, for the brackets and words “(pan masala and certain tobacco products)’’, the words “on certain goods” shall be substituted;

(b) the Seventh Schedule shall be amended in the manner specified in the Ninth Schedule.

Amendment of Act 14 of 2010.

119. In the Finance Act, 2010, in section 83, in sub-section (3), for the portion beginning with the words ‘‘for the purposes of’’ and ending with the words ‘‘for any other purpose relating thereto’’, the following shall be substituted, namely:—

‘‘for the purposes of financing and promoting clean environment and energy initiatives, funding research in the area of clean environment or clean energy, or for any other purpose relating thereto.’’.

Repeal.

120. The Finance Act, 2014 is hereby repealed and shall be deemed never to have been enacted. (11 of 2014)

DR. SANJAY SINGH,

Secretary to the Govt. of India.