Retrospective amendment of notification issued under sub-section (1) of section 25 of Customs Act read with section 124 of Finance Act
Section 105 of the Finance Act, 2024 (No. 2) deals with retrospective amendment of notification issued under sub-section (1) of section 25 of Customs Act read with section 124 of Finance Act. Retrospective amendment of notification issued under sub-section (1) of section 25 of Customs Act read with section 124 of Finance Act. The Act was enacted on 16 Aug 2024.
Retrospective amendment of notification issued under sub-section (1) of section 25 of Customs Act read with section 124 of Finance Act.
105. (1) Subject to the provisions of sub-section (2), the notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 356(E), dated the 10th May, 2023, issued by the Central Government, on being satisfied that it is necessary in the public interest so to do, under sub-section (1) of section 25 of the Customs Act read with section 124 of the Finance Act, 2021 (13 of 2021) (hereinafter referred to as the Finance Act), shall be deemed to have, and always to have, for all purposes, come into force with effect from the 1st day of April, 2023, and remain in force during the period from the 1st day of April, 2023 and ending with the 30th day of June, 2023 (both days inclusive).
(2) The notification of the Government of India in the Ministry of Finance (Department of Revenue) number G.S.R. 356(E), dated the 10th May, 2023, issued by the Central Government, on being satisfied that it is necessary in the public interest so to do, under sub-section (1) of section 25 of the Customs Act read with section 124 of the Finance Act shall stand amended in the manner specified in column (2) of the Second Schedule and shall be deemed to have been amended retrospectively on and from and up to the corresponding date specified in column (3) of that Schedule against the notification number to be amended as specified in column (1) of that Schedule.
(3) For the purposes of sub-section (2), the Central Government shall have and shall be deemed to have the power to amend the notification referred to in the said sub-section with retrospective effect as if the Central Government had the power to amend the said notification under sub-section (1) of section 25 of the Customs Act, read with section 124 of the Finance Act at all material times.
(4) Refund shall be made of the whole of duty and cess, which has been collected, but which would not have been so collected, had the notification referred to in sub-section (1) been in force in the manner and to the extent specified in sub-sections (1) and (2), in accordance with the provisions of sub-section (2) of section 27 of the Customs Act:
Provided that the person claiming the refund of such duty and cess makes an application in this behalf to the jurisdictional Assistant Commissioner of Customs or Deputy Commissioner of Customs, as the case may be, on or before the 31st day of March, 2025.
Section 105, The Finance Act, 2024 (No. 2).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 105
What does Section 105 of the Finance Act, 2024 (No. 2) deal with?
Section 105 of the Finance Act, 2024 (No. 2) is headed "Retrospective amendment of notification issued under sub-section (1) of section 25 of Customs Act read with section 124 of Finance Act". Retrospective amendment of notification issued under sub-section (1) of section 25 of Customs Act read with section 124 of Finance Act.
How do I find court cases under Section 105 of the Finance Act, 2024 (No. 2)?
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, 2024 (No. 2) 105, section 105 Finance Act, 2024 (No. 2), section 105 of the Finance Act, 2024 (No. 2). 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 105 of the Finance Act, 2024 (No. 2), and has it changed?
Its own text turns on Customs Act 25 (Power to grant exemption from duty), Customs Act 27 (Claim for refund of duty), Finance Act 124 (Agriculture Infrastructure and Development Cess on imported goods), Finance Act 124 (Amendment of Schedule IV), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was Section 105 of the Finance Act, 2024 (No. 2) enacted?
Section 105 of the Finance Act, 2024 (No. 2), cited as Finance Act, 2024 (No. 2) 105, was enacted on 16 Aug 2024. It is in force as at the date shown on this page.
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