# The Finance Act, 2016, Section 241: Collection and payment of arrears of duties

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/241/

## Text

Collection and payment of arrears of duties 241 . Notwithstanding the repeal or amendment of the enactments specified in the Fifteenth Schedule, the proceeds of duties levied under the said enactments immediately preceding the date on which the Finance Bill, 2016 receives the assent of the President,— (i) | if collected by the collecting agencies but not paid into the Reserve Bank of India; or (ii) | if not collected by the collecting agencies, shall be paid or as the case may be, collected and paid into the Reserve Bank of India for being credited to the Consolidated Fund of India.

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