Another consequential amendment:
In certain notifications, with reference to certain changes made in the budget, which had immediate effect, mention was made in the notifications about certain clauses in the Finance Bill and their immediate effect. Now this notification amends certain notifications to delete those references as the Bill has become Act.
NET EFFECT – NIL.
4. NOTIFICATION NO. , Dated: May 13, 2005
Exemption from additional duty on captive consumption of certain tobacco products:- This has been allowed by Notification No. 12/2005 dated 1.3.2005. Now a new notification is issued to allow the same exemption. Then What happens to Notification No. 12/2005?. Please see next para.
5. NOTIFICATION NO. , Dated: May 13, 2005
Notification No. 12/2005 and 7/2005 rescinded. Tea waste – exemption withdrawn?
As mentioned in para 4 above, Notification 12/2005 is replaced by Notification No. 23/2005. Then what about 7/2005? Notification 7/2005 dated 1.3.2005, exempted tea and tea waste from the additional duty levied under Section 157 of the Finance Act 2003. Now this exemption is withdrawn. What does it mean? Is tea and tea waste subject to the additional duty? Happily, NO. As per Section 122 of the Finance Act, 2005, Section 157 of the Finance Act 2003 is omitted. That means there is no additional duty on tea and tea waste now. Even before the Finance Act 2005 came into force the Government had exempted it by notification No. 7/2005. Now that the Finance Bill has become Act, there is no need for this notification and hence it is rescinded.
6. Notification No , Dated: May 13, 2005: