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Section122
The Finance Act, 2016

Amendment of section 51

In force As on 07 Oct 2026

Ministry Finance Enacted 27 Jun 2016 Cited by 1 provision

Section 122 of the Finance Act, 2016 deals with amendment of section 51. Amendment of section 51 122 . In the Customs Act, section 51 shall be renumbered as sub-section (1) thereof,— (a) | in sub-section (1) as so renumbered, the following proviso shall be inserted, namely:— "Provided that the Central Government may, by notification in the Official Gazette, permit certai The Act was enacted on 27 Jun 2016.

Amendment of section 51

122 . In the Customs Act, section 51 shall be renumbered as sub-section (1) thereof,—

(a)in sub-section (1) as so renumbered, the following proviso shall be inserted, namely:—
"Provided that the Central Government may, by notification in the Official Gazette, permit certain class of exporters to make deferred payment of said duty or any charges in such manner as may be provided by rules.";
(b)after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely:—
"(2) Where the exporter fails to pay the export duty, either in full or in part, under the proviso to sub-section (1) by such due date as may be specified by rules, he shall pay interest on said duty not paid or short-paid till the date of its payment at such rate, not below five per cent. and not exceeding thirty-six per cent. per annum, as may be fixed by the Central Government, by notification in the Official Gazette.".
Section 122, The Finance Act, 2016.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. s. 51 Insertion of new section 115BA

Referred to by 1

  1. s. 238 Amendment of Act 20 of 2015

Questions about Section 122

What does Section 122 of the Finance Act deal with?

Section 122 of the Finance Act is headed "Amendment of section 51". Amendment of section 51 122 . In the Customs Act, section 51 shall be renumbered as sub-section (1) thereof,— (a) | in sub-section (1) as so renumbered, the following proviso shall be inserted, namely:— "Provided that the Central Government may, by notification in the Official Gazette, permit certai

How do I find court cases under Section 122 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2016 122, section 122 Finance Act 2016, section 122 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 122 of the Finance Act, and has it changed?

Its own text turns on section 51 (Insertion of new section 115BA), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 122 of the Finance Act enacted?

Section 122 of the Finance Act, cited as Finance Act 2016 122, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.