{"act":{"id":"finance-act-2023","short_title":"The Finance Act, 2023","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2023-2024.","act_number":"8","act_year":2023,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":181,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2023/"},"unit":"section","section":{"number":"128","heading":"Amendment of section 25","text":"CHAPTER IV INDIRECT TAXES CUSTOMS Amendment of section 25. 128.  In the Customs Act, 1962 (52 of 1962)(hereinafter referred to as the Customs Act), in section 25, in sub-section (4A), after the proviso, the following proviso shall be inserted, namely:— \"Provided further that nothing contained in this sub-section shall apply to any such exemption granted to, or in relation to,— (a) | any multilateral or bilateral trade agreement; (b) | obligations under international agreements, treaties, conventions or such other obligations including with respect to United Nations agencies, diplomats and international organisations; (c) | privileges of constitutional authorities; (d) | schemes under the Foreign Trade Policy; (e) | the Central Government schemes having validity of more than two years; (f) | re-imports, temporary imports, goods imported as gifts or personal baggage; (g) | any duty of customs under any law for the time being in force, including integrated tax leviable under sub-section (7) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), other than duty of customs leviable under section 12.\".","html":"<p><b>CHAPTER IV</b></p><p><b>INDIRECT TAXES</b></p><p><b>CUSTOMS</b></p><p><b>Amendment of section 25.</b></p><p><b>128. </b> In the Customs Act, 1962 (52 of 1962)(hereinafter referred to as the Customs Act), in section 25, in sub-section (4A), after the proviso, the following proviso shall be inserted, namely:—</p><p>\"<b>Provided further</b> that nothing contained in this sub-section shall apply to any such exemption granted to, or in relation to,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>any multilateral or bilateral trade agreement;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>obligations under international agreements, treaties, conventions or such other obligations including with respect to United Nations agencies, diplomats and international organisations;</td></tr><tr><td>(<i>c</i>)</td><td></td><td>privileges of constitutional authorities;</td></tr><tr><td>(<i>d</i>)</td><td></td><td>schemes under the Foreign Trade Policy;</td></tr><tr><td>(<i>e</i>)</td><td></td><td>the Central Government schemes having validity of more than two years;</td></tr><tr><td>(<i>f</i>)</td><td></td><td>re-imports, temporary imports, goods imported as gifts or personal baggage;</td></tr><tr><td>(<i>g</i>)</td><td></td><td>any duty of customs under any law for the time being in force, including integrated tax leviable under sub-section (7) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), other than duty of customs leviable under section 12.\".</td></tr></table></div>","words":173,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/128/","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."}