Amendment status not verified — confirm the current text below against the official source.
(1) The Government may, by notification, make an exemption or reduction in rate, in respect of the tax on any specified class of passengers, luggage or goods having regard to all or any of the following matters, namely. - (a) in the case of passengers and luggage, the purpose for which the journey is performed; (b) in the case of goods, the commercial importance of such goods; and (c) such other matters as may be prescribed. (2) Any exemption from tax or reduction in the rate of tax notified under sub-section (1) may be subject to such restrictions and conditions as maybe specified in the notification, (3) The Government may, by notification cancel or vary any notification issued under sub-section (1).