{"act":{"id":"finance-act-2025","short_title":"The Finance Act, 2025","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2025-2026.","act_number":"7","act_year":2025,"enact_date":"2025-08-16","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":153,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2025/"},"unit":"section","section":{"number":"94","heading":"Amendment of section 27","text":"Amendment of section 27. 94.  In section 27 of the Customs Act, in sub-section (1), the Explanation shall be numbered as Explanation 1 thereof, and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely:— \"Explanation 2.—For the removal of doubts, it is hereby clarified that the period of limitation of one year in case of claim of refund under clause (b) of sub-section (3) of section 18A or amendment of documents under section 149, shall be computed from the date of payment of such duty or interest.\".","html":"<p><b>Amendment of section 27.</b></p><p><b>94. </b> In section 27 of the Customs Act, in sub-section (1), the <i>Explanation </i>shall be numbered as <i>Explanation 1</i> thereof, and after <i>Explanation 1</i> as so numbered, the following <i>Explanation </i>shall be inserted, namely:—</p><p>\"<i>Explanation 2</i>.—For the removal of doubts, it is hereby clarified that the period of limitation of one year in case of claim of refund under clause (<i>b</i>) of sub-section (3) of section 18A or amendment of documents under section 149, shall be computed from the date of payment of such duty or interest.\".</p>","words":91,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2025/section/94/","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."}