{"act":{"id":"finance-act-2018","short_title":"The Finance Act, 2018","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2018-2019.","act_number":"13","act_year":2018,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":227,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2018/"},"unit":"section","section":{"number":"60","heading":"Amendment of section 17","text":"Amendment of section 17 60. In the Customs Act, in section 17,— (i) | in sub-section (2),— (a) | for the words \"the self-assessment of such goods\", the words, figures and brackets \"the entries made under section 46 or section 50 and the self- assessment of goods referred to in sub-section (1)\" shall be substituted; (b) | the following proviso shall be inserted, namely:— \"Provided that the selection of cases for verification shall primarily be on the basis of risk evaluation through appropriate selection criteria.\"; (ii) | in sub-section (3), for the words \"verification of self-assessment\", the words \"the purposes of verification\" shall be substituted; (iii) | in sub-section (5), the words \"regarding valuation of goods, classification, exemption or concessions of duty availed consequent to any notification issued therefor under this Act\" shall be omitted; (iv) | sub-section (6) shall be omitted.","html":"<p><b>Amendment of section 17</b></p><p><b>60. </b>In the Customs Act, in section 17,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (2),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>for the words \"the self-assessment of such goods\", the words, figures and brackets \"the entries made under section 46 or section 50 and the self- assessment of goods referred to in sub-section (1)\" shall be substituted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>the following proviso shall be inserted, namely:—</td></tr><tr><td></td><td></td><td><b>\"Provided</b> that the selection of cases for verification shall primarily be on the basis of risk evaluation through appropriate selection criteria.\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>in sub-section (3), for the words \"verification of self-assessment\", the words \"the purposes of verification\" shall be substituted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in sub-section (5), the words \"regarding valuation of goods, classification, exemption or concessions of duty availed consequent to any notification issued therefor under this Act\" shall be omitted;</td></tr><tr><td>(<i>iv</i>)</td><td></td><td>sub-section (6) shall be omitted.</td></tr></table></div>","words":142,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2018/section/60/","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."}