Provisional Collection of Taxes Act, 2023

No: 50 Dated: Dec, 28 2023

Provisional Collection of Taxes Act, 2023

An Act to provide for the immediate effect for a limited period of provisions in Bills relating to the imposition or increase of duties of customs or excise.

BE it enacted by Parliament in the Seventy-fourth Year of the Republic of India as follows:—

1. This Act may be called the Provisional Collection of Taxes Act, 2023.

2. In this Act, a “declared provision” means a provision in a Bill in respect of which a declaration has been made under section 3.

3. Where a Bill to be introduced in Parliament on behalf of the Government provides for the imposition or increase of a duty of customs or excise with or without change in tariff classification, the Central Government may cause to be inserted in the Bill a declaration that it is expedient in the public interest that any provision of the Bill relating to such imposition or increase shall have immediate effect under this Act.