Finance Act Comes into Force - Government Withdraws Notifications
A decrease proposed in the tariff in the Finance Bill comes into force only after the Finance Bill is enacted. So, the Government gives effect to such reduction immediately by issuing exemption notifications and these notifications are rescinded after the Finance Bill is enacted.
Now, the Government has rescinded Notification Nos. 9, 10, 11, 18/2012 - CE dated 17.03.2012, as these notifications have now become redundant.
But the Government has also withdrawn Notification No. 23/2012 - CE dated 08.05.2012 pertaining to articles of jewellery, which is not really a Budget Notification. Please see 10.05.2012.
Notification No. , Dated: May 30, 2012