Amendment status not verified — confirm the current text below against the official source.

[(1) There shall be levied and collected, as a cess for the purposes of this Act, on all copra consumed in any mill in [India] whether produced in or imported from outside [India] a duty of excise at such rate, not exceeding [forty-nine naye paise per quintal], as the Central Government may, after consulting the Committee, by notification in the Official Gazette, fix in this behalf. [(2)] On the last day of each month, or as soon thereafter as may be convenient, the proceeds of the duty recovered during that month shall, after deduction of the expenses, if any, of collection and recovery, be paid to the Committee, and the Committee shall credit the said proceeds and any other monies received by it to a fund called the Coconut Improvement Fund.] Section 3 was renumbered as sub-section (1) and sub-section (2) inserted by Act 15 of 1946, Section 3. Substituted by Act 62 of 1956, Section 2 and Schedule, for "the territories to which this Act extends". Substituted by Act 62 of 1956, Section 2 and Schedule, for "the said territories". Substituted for "four annas per cwt." by Act 40 of 1960, Section 6 (w.e.f. 1-10-1960). Section 3 was renumbered as sub-section (1) and sub-section (2) inserted by Act 15 of 1946, Section 3.