Amendment status not verified — confirm the current text below against the official source.
In the Finance Act, 2021,-- (a) in section 124, for sub-section (5), the following sub-section shall be substituted, namely:-- "(5) The provisions of the Customs Act, 1962 (52 of 1962) and all rules and regulations made thereunder, including but not limited to those relating to the date for determination of rate of duty, assessment, non-levy, short-levy, refunds, exemptions, interest, recovery, appeals, offences and penalties shall, as far as may be, apply in relation to the levy and collection of the Agriculture Infrastructure and Development Cess on imported goods as they apply in relation to the levy and collection of duties of customs on such goods under that Act or all rules or regulations made thereunder, as the case may be."; (b) in section 125, for sub-section (4), the following sub-section shall be substituted, namely:-- "(4) The provisions of the Central Excise Act, 1944 (1 of 1944) and all rules and regulations made thereunder, including but not limited to those relating to the date for determination of rate of duty, assessment, non-levy, short-levy, refunds, exemptions, interest, recovery, appeals, offences and penalties shall, as far as may be, apply in relation to the levy and collection of the cess leviable under this section in respect of scheduled goods as they apply in relation to the levy and collection of duties of excise on such goods under that Act or all rules or regulations made thereunder, as the case may be.".