{"act":{"id":"finance-act-1977","short_title":"The Finance Act, 1977","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1977-1978.","act_number":"11","act_year":1977,"enact_date":"1977-08-06","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":37,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1977/"},"unit":"section","section":{"number":"40","heading":"Power to exempt feature films, etc., from payment of excise duty","text":"Power to exempt feature films, etc., from payment of excise duty 40. (1) The Central Government may, by notification in the\" Official Gazette, exempt retrospectively from a date not earlier than the 18th day of June, 1977, subject to such conditions as may be specified in the notification, cinematograph films, exposed, falling under Item No. 37 in the First Schedule to the Central Excises Act, from the whole or any part of the duty leviable thereon under that Act. (2) The provisions of the Central Excises Act and the rules made thereunder shall apply in relation to any notification issued under subsection (1) as they apply in relation to any notification issued under rule 8 of the said rules. [Finance (No. 2) Act, 1977] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Power to exempt feature films, etc., from payment of excise duty</b></p><p><b>40.</b> (<i>1</i>) The Central Government may, by notification in the\" Official Gazette, exempt retrospectively from a date not earlier than the 18th day of June, 1977, subject to such conditions as may be specified in the notification, cinematograph films, exposed, falling under Item No. 37 in the First Schedule to the Central Excises Act, from the whole or any part of the duty leviable thereon under that Act.</p><p>(<i>2</i>) The provisions of the Central Excises Act and the rules made thereunder shall apply in relation to any notification issued under subsection (<i>1</i>) as they apply in relation to any notification issued under rule 8 of the said rules.</p><p>[Finance (No. 2) Act, 1977]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":130,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1977/section/40/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}