(1) This Act may be called the Finance Act, 2006.

(2) Save as otherwise provided in this Act, Sections 2 to 57 shall be deemed to have come into force on the 1st day of April, 2006.

RATES OF INCOME TAX

(1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2006, income tax shall be charged at the rates specified in Part I of the First Schedule and such tax as reduced by the rebate of income tax calculated under Chapter VIII-A of the Income Tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income Tax Act) shall be increased by a surcharge for purposes of the Union calculated in each case in the manner provided therein.

(2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding five thousand rupees, in addition to total income, and the total income exceeds one lakh rupees, then,

(a) the net agricultural income shall be taken into account, in the manner provided in clause (b) [that is to say, as if the net agricultural income were comprised in the total income after the first one lakh rupees of the total income but without being liable to tax], only for the purpose of charging income tax in respect of the total income; and

(b) the income tax chargeable shall be calculated as follows:

(i) the total income and the net agricultural income shall be aggregated and the amount of income tax shall be determined in respect of the aggregate income at the rates specified in the said Paragraph A, as if such aggregate income were the total income;

(ii) the net agricultural income shall be increased by a sum of one lakh rupees, and the amount of income tax shall be determined in respect of the net agricultural income as so increased at the rates specified in the said Paragraph A, as if the net agricultural income as so increased were the total income;

(iii) the amount of income tax determined in accordance with sub-clause (i) shall be reduced by the amount of income tax determined in accordance with sub-clause (ii) and the sum so arrived at shall be the income tax in respect of the total income:

Provided that in the case of every woman, resident in India and below the age of sixty-five years at any time during the previous year, referred to in item (II) of Paragraph A of Part I of the First Schedule, the provisions of this sub-section shall have effect as if for the words one lakh rupees , the words one lakh thirty-five thousand rupees had been substituted:

Provided further that in the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year, referred to in item (III) of Paragraph A of Part I of the First Schedule, the provisions of this sub-section shall have effect as if for the words one lakh rupees , the words one lakh eighty-five thousand rupees had been substituted:

Provided also that the amount of income tax so arrived at, as reduced by the amount of rebate of income tax calculated under Chapter VIII-A of the Income Tax Act, shall be increased by a surcharge for purposes of the Union calculated in each case in the manner provided in that Paragraph and the sum so arrived at shall be the income tax in respect of the total income.

(3) In cases to which the provisions of Chapter XII or Chapter XII-A or Chapter XII-H or Section 115-JB or sub-section (1-A) of Section 161 or Section 164 or Section 164-A or Section 167-B of the Income Tax Act apply, the tax chargeable shall be determined as provided in that chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that chapter or section, as the case may be:

Provided that the amount of income tax computed in accordance with the provisions of Section 111-A or Section 112 shall be increased by a surcharge for purposes of the Union as provided in Paragraph A, B, C, D or E, as the case may be, of Part I of the First Schedule:

Provided further that in respect of any income chargeable to tax under Sections 115-A, 115-AB, 115-AC, 115-ACA, 115-AD, 115-B, 115-BB, 115-BBA, 115-E and 115-JB or fringe benefits chargeable to tax under Section 115-WA of the Income Tax Act, the amount of income tax computed under this sub-section shall be increased by a surcharge for purposes of the Union, calculated,

(a) in the case of every individual, Hindu undivided family, association of persons and body of individuals, whether incorporated or not, at the rate of ten per cent of such income tax where the total income or fringe benefits, as the case may be, exceeds ten lakh rupees;

(b) in the case of every firm, artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income Tax Act, and domestic company at the rate of ten per cent of such income tax;

(c) in the case of every company, other than a domestic company, at the rate of two and one-half per cent of such income tax.

(4) In cases in which tax has to be charged and paid under Section 115-O or sub-section (2) of Section 115-R of the Income Tax Act, the tax shall be charged and paid at the rate as specified in those sections and shall be increased by a surcharge for purposes of the Union, calculated at the rate of ten per cent of such tax.

(5) In cases in which tax has to be deducted under Sections 193, 194, 194-A, 194-B, 194-BB, 194-D and 195 of the Income Tax Act, at the rates in force, the deductions shall be made at the rates specified in Part II of the First Schedule and shall be increased, by a surcharge for purposes of the Union, calculated in each case, in the manner provided therein.

(6) In cases in which tax has to be deducted under Sections 194-C, 194-E, 194-EE, 194-F, 194-G, 194-H, 194-I, 194-J, 194-LA, 196-B, 196-C and 196-D of the Income Tax Act, the deductions shall be made at the rates specified in those sections and shall be increased by a surcharge for purposes of the Union, calculated,

(a) in the case of every individual, Hindu undivided family, association of persons and body of individuals, whether incorporated or not, at the rate of ten per cent of such tax where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds ten lakh rupees;

(b) in the case of every firm, artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income Tax Act, and domestic company, at the rate of ten per cent of such tax;

(c) in the case of every company, other than a domestic company, at the rate of two and one-half per cent of such tax.

(7) In cases in which tax has to be collected under the proviso to Section 194-B of the Income Tax Act, the collection shall be made at the rates specified in Part II of the First Schedule, and shall be increased, by a surcharge for purposes of the Union, calculated in the manner provided therein.

(8) In cases in which tax has to be collected under Section 206-C of the Income Tax Act, the collection shall be made at the rates specified in that section and shall be increased by a surcharge for purposes of the Union, calculated,

(a) in the case of every individual, Hindu undivided family, association of persons and body of individuals, whether incorporated or not, at the rate of ten per cent of such tax where the amount or the aggregate of such amounts collected, and subject to the collection, exceeds ten lakh rupees;

(b) in the case of every firm, artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income Tax Act, and domestic company, at the rate of ten per cent of such tax;

(c) in the case of every company, other than a domestic company, at the rate of two and one-half per cent of such tax.

(9) Subject to the provisions of sub-section (10), in cases in which income tax has to be charged under sub-section (4) of Section 172 or sub-section (2) of Section 174 or Section 174-A or Section 175 or sub-section (2) of Section 176 of the Income Tax Act or deducted from, or paid on, income chargeable under the head Salaries under Section 192 of the said Act or in which the advance tax payable under Chapter XVII-C of the said Act has to be computed at the rate or rates in force, such income tax or, as the case may be, advance tax shall be so charged, deducted or computed at the rate or rates specified in Part III of the First Schedule and such tax as reduced by the rebate of income tax calculated under Chapter VIII-A of the said Act shall be increased by a surcharge for purposes of the Union, calculated in each case in the manner provided therein:

Provided that in cases to which the provisions of Chapter XII or Chapter XII-A or Chapter XII-H or Section 115-JB or sub-section (1-A) of Section 161 or Section 164 or Section 164-A or Section 167-B of the Income Tax Act apply, advance tax shall be computed with reference to the rates imposed by this sub-section or the rates as specified in that chapter or section, as the case may be:

Provided further that the amount of advance tax computed in accordance with the provisions of Section 111-A or Section 112 of the Income Tax Act shall be increased by a surcharge for purposes of the Union as provided in Paragraph A, B, C, D or E, as the case may be, of Part III of the First Schedule:

Provided also that in respect of any income chargeable to tax under Sections 115-A, 115-AB, 115-AC, 115-ACA, 115-AD, 115-B, 115-BB, 115-BBA, 115-BBC, 115-E and 115-JB or fringe benefits chargeable to tax under Section 115-WA of the Income Tax Act, advance tax computed under the first proviso shall be increased by a surcharge for purposes of the Union, calculated,

(a) in the case of every individual, Hindu undivided family, association of persons and body of individuals, whether incorporated or not, at the rate of ten per cent of advance tax where the total income or fringe benefits, as the case may be, exceeds ten lakh rupees;

(b) in the case of every firm, artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income Tax Act, and domestic company, at the rate of ten per cent of such advance tax ;

(c) in the case of every company, other than a domestic company, at the rate of two and one-half per cent of such advance tax .

(10) In cases to which Paragraph A of Part III of the First Schedule applies, where the assessee has, in the previous year or, if by virtue of any provision of the Income Tax Act, income tax is to be charged in respect of the income of a period other than the previous year, in such other period, any net agricultural income exceeding five thousand rupees, in addition to total income and the total income exceeds one lakh rupees, then, in charging income tax under sub-section (2) of Section 174 or Section 174-A or Section 175 or sub-section (2) of Section 176 of the said Act or in computing the advance tax payable under Chapter XVII-C of the said Act, at the rate or rates in force,

(a) the net agricultural income shall be taken into account, in the manner provided in clause (b) [that is to say, as if the net agricultural income were comprised in the total income after the first one lakh rupees of the total income but without being liable to tax], only for the purpose of charging or computing such income tax or, as the case may be, advance tax in respect of the total income; and

(b) such income tax or, as the case may be, advance tax shall be so charged or computed as follows:

(i) the total income and the net agricultural income shall be aggregated and the amount of income tax or advance tax shall be determined in respect of the aggregate income at the rates specified in the said Paragraph A, as if such aggregate income were the total income;

(ii) the net agricultural income shall be increased by a sum of one lakh rupees, and the amount of income tax or advance tax shall be determined in respect of the net agricultural income as so increased at the rates specified in the said Paragraph A, as if the net agricultural income were the total income;

(iii) the amount of income tax or advance tax determined in accordance with sub-clause (i) shall be reduced by the amount of income tax or, as the case may be, advance tax determined in accordance with sub-clause (ii) and the sum so arrived at shall be the income tax or, as the case may be, advance tax in respect of the total income:

Provided that in the case of every woman, resident in India and below the age of sixty-five years at any time during the previous year, referred to in item (II) of Paragraph A of Part III of the First Schedule, the provisions of this sub-section shall have effect as if for the words one lakh rupees , the words one lakh thirty-five thousand rupees had been substituted:

Provided further that in the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year, referred to in item (III) of Paragraph A of Part III of the First Schedule, the provisions of this sub-section shall have effect as if for the words one lakh rupees , the words one lakh eighty-five thousand rupees had been substituted:

Provided also that the amount of income tax or advance tax so arrived at, as reduced by the rebate of income tax calculated under Chapter VIII-A of the said Act, shall be increased by a surcharge for purposes of the Union calculated in each case, in the manner provided therein.

(11) The amount of income tax as specified in sub-sections (1) to (10) and as increased by a surcharge for purposes of the Union calculated in the manner provided therein, shall be further increased by an additional surcharge for purposes of the Union, to be called the Education Cess on income tax , so as to fulfil the commitment of the Government to provide and finance universalised quality basic education, calculated at the rate of two per cent of such income tax and surcharge.

(12) For the purposes of this section and the First Schedule,

(a) domestic company means an Indian company or any other company which, in respect of its income liable to income tax under the Income Tax Act for the assessment year commencing on the 1st day of April, 2006, has made the prescribed arrangements for the declaration and payment within India of the dividends (including dividends on preference shares) payable out of such income;

(b) insurance commission means any remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring insurance business (including business relating to the continuance, renewal or revival of policies of insurance);

(c) net agricultural income , in relation to a person, means the total amount of agricultural income, from whatever source derived, of that person computed in accordance with the rules contained in Part IV of the First Schedule;

(d) all other words and expressions used in this section and the First Schedule but not defined in this sub-section and defined in the Income Tax Act shall have the meanings respectively assigned to them in that Act.

DIRECT TAXES

Income tax

In Section 2 of the Income Tax Act,

(i) in clause (24),

(A) in sub-clause (iii-a),

(a) after the words, brackets and figures sub-clause (iv) or sub-clause (v) , the words, brackets, figures and letter or by any university or other educational institution referred to in sub-clause (vi) or by any hospital or other institution referred to in sub-clause (vi-a) shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1999;

(b) for the words, brackets, figures and letter or by any university or other educational institution referred to in sub-clause (vi) or by any hospital or other institution referred to in sub-clause (vi-a) , as so inserted by sub-item (a), the words, brackets, figures and letters or by any university or other educational institution referred to in sub-clause (iii-ad) or sub-clause (vi) or by any hospital or other institution referred to in sub-clause (iii-ae) or sub-clause (vi-a) shall be substituted with effect from the 1st day of April, 2007;

(B) after sub-clause (vii), the following sub-clause shall be inserted with effect from the 1st day of April, 2007, namely:

(vii-a) the profits and gains of any business of banking (including providing credit facilities) carried on by a co-operative society with its members; ;

(ii) after clause (26), the following clauses shall be inserted, namely:

(26-A) infrastructure capital company means such company which makes investments by way of acquiring shares or providing long-term finance to any enterprise or undertaking wholly engaged in the business referred to in sub-section (4) of Section 80-IA or sub-section (1) of Section 80-IAB or an undertaking developing and building a housing project referred to in sub-section (10) of Section 80-IB or a project for constructing a hotel of not less than three-star category as classified by the Central Government or a project for constructing a hospital with at least one hundred beds for patients;

(26-B) infrastructure capital fund means such fund operating under a trust deed registered under the provisions of the Registration Act, 1908 (16 of 1908) established to raise monies by the trustees for investment by way of acquiring shares or providing long-term finance to any enterprise or undertaking wholly engaged in the business referred to in sub-section (4) of Section 80-IA or sub-section (1) of Section 80-IAB or an undertaking developing and building a housing project referred to in sub-section (10) of Section 80-IB or a project for constructing a hotel of not less than three-star category as classified by the Central Government or a project for constructing a hospital with at least one hundred beds for patients; ;

(iii) in clause (37-A), in sub-clause (iii), for the words and figures, an agreement entered into by the Central Government under Section 90, whichever is applicable by virtue of the provisions of Section 90; , the words, figures and letters an agreement entered into by the Central Government under Section 90, or an agreement notified by the Central Government under Section 90-A, whichever is applicable by virtue of the provisions of Section 90, or Section 90-A, as the case may be; shall be substituted with effect from the 1st day of June, 2006;

(iv) in clause (48), the Explanation shall be omitted.

In Section 10 of the Income Tax Act,

(a) in clause (6-BB), for the words, figures and letters or entered into after the 31st day of March, 2006 and approved by the Central Government in this behalf , the words, figures and letters or entered into after the 31st day of March, 2007 and approved by the Central Government in this behalf shall be substituted with effect from the 1st day of April, 2007;

(b) in clause (15-A), in the proviso, for the words, figures and letters the 1st day of April, 2006 , the words, figures and letters the 1st day of April, 2007 shall be substituted with effect from the 1st day of April, 2007;

(c) in clause (17), for sub-clause (iii), the following sub-clause shall be substituted with effect from the 1st day of April, 2007, namely:

(iii) any constituency allowance received by any person by reason of his membership of any State Legislature under any Act or rules made by that State Legislature; ;

(d) in clause (23-C),

(i) after the eleventh proviso, the following proviso shall be inserted with effect from the 1st day of June, 2006, namely:

Provided also that in case the fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in the first proviso makes an application on or after the 1st day of June, 2006 for the purposes of grant of exemption or continuance thereof, such application shall be made at any time during the financial year immediately preceding the assessment year from which the exemption is sought: ;

(ii) after the twelfth proviso as so inserted, the following proviso shall be inserted with effect from the 1st day of April, 2007, namely:

Provided also that any anonymous donation referred to in Section 115-BBC on which tax is payable in accordance with the provisions of the said section shall be included in the total income; ;

(e) in clause (23-EA), for the words any income , the words any income, by way of contributions received from recognised stock exchanges and the members thereof, shall be substituted with effect from the 1st day of April, 2007;

(f) clause (23-G) shall be omitted with effect from the 1st day of April, 2007;

(g) in clause (38),

(i) before the Explanation, the following proviso shall be inserted with effect from the 1st day of April, 2007, namely:

Provided that the income by way of long-term capital gain of a company shall be taken into account in computing the book profit and income tax payable under Section 115-JB. ;

(ii) in the Explanation, in clause (i), for the words fifty per cent , the words sixty-five per cent shall be substituted with effect from the 1st day of June, 2006;

(h) after clause (41), the following shall be inserted, namely:

(42) any specified income arising to a body or authority which

(a) has been established or constituted or appointed under a treaty or an agreement entered into by the Central Government with two or more countries or a convention signed by the Central Government;

(b) is established or constituted or appointed not for the purposes of profit;

(c) is notified by the Central Government in the Official Gazette for the purposes of this clause.

Explanation. For the purposes of this clause, specified income means the income, of the nature and to the extent, arising to the body or authority referred to in this clause, which the Central Government may notify in this behalf. .

In Section 10-B of the Income Tax Act, in sub-section (1),

(a) in the second proviso, for the word also , the word further shall be substituted;

(b) after the third proviso, the following proviso shall be inserted, namely:

Provided also that no deduction under this section shall be allowed to an assessee who does not furnish a return of his income on or before the due date specified under sub-section (1) of Section 139. .

In Section 13 of the Income Tax Act, after sub-section (6) and before Explanation 1, the following sub-section shall be inserted with effect from the 1st day of April, 2007, namely:

(7) Nothing contained in Section 11 or Section 12 shall operate so as to exclude from the total income of the previous year of the person in receipt thereof, any anonymous donation referred to in Section 115-BBC on which tax is payable in accordance with the provisions of that section. .

Section 14-A of the Income Tax Act shall be numbered as sub-section (1) thereof and after sub-section (1) as so numbered, the following sub-sections shall be inserted, with effect from the 1st day of April, 2007, namely:

(2) The Assessing Officer shall determine the amount of expenditure incurred in relation to such income which does not form part of the total income under this Act in accordance with such method as may be prescribed, if the Assessing Officer, having regard to the accounts of the assessee, is not satisfied with the correctness of the claim of the assessee in respect of such expenditure in relation to income which does not form part of the total income under this Act.

(3) The provisions of sub-section (2) shall also apply in relation to a case where an assessee claims that no expenditure has been incurred by him in relation to income which does not form part of the total income under this Act. .

In Section 17 of the Income Tax Act, in clause (2), after sub-clause (vi), in the proviso, with effect from the 1st day of April, 2007,

(i) in clause (iii), after the words Central Government , the words, brackets and figures or the Insurance Regulatory and Development Authority established under sub-section (1) of Section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), shall be inserted;

(ii) in clause (iv), after the words Central Government , the words, brackets and figures or the Insurance Regulatory and Development Authority established under sub-section (1) of Section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), shall be inserted.

In Section 36 of the Income Tax Act, in sub-section (1),

(a) for clause (i-b), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:

(i-b) the amount of any premium paid by cheque by the assessee as an employer to effect or to keep in force an insurance on the health of his employees under a scheme framed in this behalf by

(A) the General Insurance Corporation of India formed under Section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972) and approved by the Central Government; or

(B) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of Section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999); ;

(b) in clause (iii-a), in the Explanation, clause (iii) shall be omitted;

(c) in clause (viii), in the Explanation, for clause (d), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:

(d) infrastructure facility means

(i) an infrastructure facility as defined in the Explanation to clause (i) of sub-section (4) of Section 80-IA, or any other public facility of a similar nature as may be notified by the Board in this behalf in the Official Gazette and which fulfils the conditions as may be prescribed;

(ii) an undertaking referred to in clause (ii) or clause (iii) or clause (iv) of sub-section (4) of Section 80-IA; and

(iii) an undertaking referred to in sub-section (10) of Section 80-IB; .

In Section 40 of the Income Tax Act, in clause (a), after sub-clause (ii),

(a) the following Explanation shall be inserted, namely:

Explanation 1. For the removal of doubts, it is hereby declared that for the purposes of this sub-clause, any sum paid on account of any rate or tax levied includes and shall be deemed always to have included any sum eligible for relief of tax under Section 90 or, as the case may be, deduction from the Indian income tax payable under Section 91. ;

(b) after Explanation 1 as so inserted, the following Explanation shall be inserted with effect from the 1st day of June, 2006, namely:

Explanation 2. For the removal of doubts, it is hereby declared that for the purposes of this sub-clause, any sum paid on account of any rate or tax levied includes any sum eligible for relief of tax under Section 90-A; .

In Section 43 of the Income Tax Act, in clause (5), in the proviso, in clause (d), for the brackets and letters (aa) , the brackets and letters (ac) shall be substituted.

In Section 43-B of the Income Tax Act,

(a) after Explanation 3-B, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1989, namely:

Explanation 3-C. For the removal of doubts, it is hereby declared that a deduction of any sum, being interest payable under clause (d) of this section, shall be allowed if such interest has been actually paid and any interest referred to in that clause which has been converted into a loan or borrowing shall not be deemed to have been actually paid. ;

(b) after Explanation 3-C as so inserted, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1997, namely:

Explanation 3-D. For the removal of doubts, it is hereby declared that a deduction of any sum, being interest payable under clause (e) of this section, shall be allowed if such interest has been actually paid and any interest referred to in that clause which has been converted into a loan or advance shall not be deemed to have been actually paid. .

In Section 54-EC of the Income Tax Act, after sub-section (3), in the Explanation, for clause (b), the following clause shall be substituted, namely:

(b) long-term specified asset means any bond, redeemable after three years and issued on or after the 1st day of April, 2006,

(i) by the National Highways Authority of India constituted under Section 3 of the National Highways Authority of India Act, 1988 (68 of 1988), and notified by the Central Government in the Official Gazette for the purposes of this section; or

(ii) by the Rural Electrification Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956), and notified by the Central Government in the Official Gazette for the purposes of this section. .

In Section 54-ED of the Income Tax Act, in sub-section (1), for the words from the transfer of a long-term capital asset, , the words, figures and letters from the transfer before the 1st day of April, 2006, of a long-term capital asset, shall be substituted with effect from the 1st day of April, 2007.

After Section 80-AB of the Income Tax Act, the following section shall be inserted, namely:

80-AC. Deduction not to be allowed unless return furnished. Where in computing the total income of an assessee of the previous year relevant to the assessment year commencing on the 1st day of April, 2006 or any subsequent assessment year, any deduction is admissible under Section 80-IA or Section 80-IAB or Section 80-IB or Section 80-IC, no such deduction shall be allowed to him unless he furnishes a return of his income for such assessment year on or before the due date specified under sub-section (1) of Section 139. .

In Section 80-C of the Income Tax Act, in sub-section (2), with effect from the 1st day of April, 2007,

(a) in clause (xi), for the words, brackets, figures and letter notified under clause (23-D) , the words, brackets, figures and letter referred to in clause (23-D) shall be substituted;

(b) in clause (xiii), for the words, brackets, figures and letter notified under clause (23-D) , the words, brackets, figures and letter referred to in clause (23-D) shall be substituted;

(c) in clause (xiv), for the words, brackets, figures and letter notified under clause (23-D) , the words, brackets, figures and letter referred to in clause (23-D) shall be substituted;

(d) after clause (xx), the following shall be inserted, namely:

(xxi) as term deposit

(a) for a fixed period of not less than five years with a scheduled bank; and

(b) which is in accordance with a scheme framed and notified, by the Central Government, in the Official Gazette for the purposes of this clause.

Explanation. For the purposes of this clause, scheduled bank means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), or a corresponding new bank constituted under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or under Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or any other bank, being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934). .

In Section 80-CCC of the Income Tax Act, in sub-section (1), for the words ten thousand rupees , the words one lakh rupees shall be substituted with effect from the 1st day of April, 2007.

In Section 80-IA of the Income Tax Act, in sub-section (4), with effect from the 1st day of April, 2007,

(a) in clause (iii), after the proviso, the following proviso shall be inserted, namely:

Provided further that in the case of any undertaking which develops, develops and operates or maintains and operates an industrial park, the provisions of this clause shall have effect as if for the figures, letters and words 31st day of March, 2006 , the figures, letters and words 31st day of March, 2009 had been substituted; ;

(b) in clause (iv),

(i) in sub-clause (a), for the words, figures and letters the 31st day of March, 2006 , the words, figures and letters the 31st day of March, 2010 shall be substituted;

(ii) in sub-clause (b), for the words, figures and letters the 31st day of March, 2006 , the words, figures and letters the 31st day of March, 2010 shall be substituted;

(iii) in sub-clause (c), for the words, figures and letters the 31st day of March, 2006 , the words, figures and letters the 31st day of March, 2010 shall be substituted.

In Section 80-P of the Income Tax Act, after sub-section (3), the following shall be inserted with effect from the 1st day of April, 2007, namely:

(4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank.

Explanation. For the purposes of this sub-section,

(a) co-operative bank and primary agricultural credit society shall have the meanings respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949);

(b) primary co-operative agricultural and rural development bank means a society having its area of operation confined to a taluk and the principal object of which is to provide for long-term credit for agricultural and rural development activities. .

In Chapter IX of the Income Tax Act, after Section 90, the following section shall be inserted with effect from the 1st day of June, 2006, namely:

90-A. Adoption by Central Government of agreement between specified associations for double taxation relief. (1) Any specified association in India may enter into an agreement with any specified association in the specified territory outside India and the Central Government may, by notification in the Official Gazette, make such provisions as may be necessary for adopting and implementing such agreement

(a) for the granting of relief in respect of

(i) income on which have been paid both income tax under this Act and income tax in any specified territory outside India; or

(ii) income tax chargeable under this Act and under the corresponding law in force in that specified territory outside India to promote mutual economic relations, trade and investment, or

(b) for the avoidance of double taxation of income under this Act and under the corresponding law in force in that specified territory outside India, or

(c) for exchange of information for the prevention of evasion or avoidance of income tax chargeable under this Act or under the corresponding law in force in that specified territory outside India, or investigation of cases of such evasion or avoidance, or

(d) for recovery of income tax under this Act and under the corresponding law in force in that specified territory outside India.

(2) Where a specified association in India has entered into an agreement with a specified association of any specified territory outside India under sub-section (1) and such agreement has been notified under that sub-section, for granting relief of tax, or as the case may be, avoidance of double taxation, then, in relation to the assessee to whom such agreement applies, the provisions of this Act shall apply to the extent they are more beneficial to that assessee.

(3) Any term used but not defined in this Act or in the agreement referred to in sub-section (1) shall, unless the context otherwise requires, and is not inconsistent with the provisions of this Act or the agreement, have the same meaning as assigned to it in the notification issued by the Central Government in the Official Gazette in this behalf.

Explanation 1. For the removal of doubts, it is hereby declared that the charge of tax in respect of a company incorporated in the specified territory outside India at a rate higher than the rate at which a domestic company is chargeable, shall not be regarded as less favourable charge or levy of tax in respect of such company.

Explanation 2. For the purposes of this section, the expressions

(a) specified association means any institution, association or body, whether incorporated or not, functioning under any law for the time being in force in India or the laws of the specified territory outside India and which may be notified as such by the Central Government for the purposes of this section;

(b) specified territory means any area outside India which may be notified as such by the Central Government for the purposes of this section. .

In Section 92-C of the Income Tax Act, in sub-section (4), in the first proviso, for the words, figures and letters Section 10-A or Section 10-B , the words, figures and letters Section 10-A or Section 10-AA or Section 10-B shall be substituted with effect from the 1st day of April, 2007.

In Chapter XII of the Income Tax Act, after Section 115-BBB, the following section shall be inserted with effect from the 1st day of April, 2007, namely:

115-BBC. Anonymous donations to be taxed in certain cases. (1) Where the total income of an assessee, being a person in receipt of income on behalf of any university or other educational institution referred to in sub-clause (iii-ad) or sub-clause (vi) or any hospital or other institution referred to in sub-clause (iii-ae) or sub-clause (vi-a) or any fund or institution referred to in sub-clause (iv) or any trust or institution referred to in sub-clause (v) of clause (23-C) of Section 10 or any trust or institution referred to in Section 11, includes any income by way of any anonymous donation, the income tax payable shall be the aggregate of

(i) the amount of income tax calculated on the income by way of any anonymous donation, at the rate of thirty per cent; and

(ii) the amount of income tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (i).

(2) The provisions of sub-section (1) shall not apply to any anonymous donation received by

(a) any trust or institution created or established wholly for religious purposes;

(b) any trust or institution created or established wholly for religious and charitable purposes other than any anonymous donation made with a specific direction that such donation is for any university or other educational institution or any hospital or other medical institution run by such trust or institution.

(3) For the purposes of this section, anonymous donation means any voluntary contribution referred to in sub-clause (ii-a) of clause (24) of Section 2, where a person receiving such contribution does not maintain a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed. .

In Section 115-JAA of the Income Tax Act, for sub-sections (2) and (3), the following sub-sections shall be substituted with effect from the 1st day of April, 2007, namely:

(2) The tax credit to be allowed under sub-section (1) shall be the difference of the tax paid for any assessment year under sub-section (1) of Section 115-JA and the amount of tax payable by the assessee on his total income computed in accordance with the other provisions of this Act:

Provided that no interest shall be payable on the tax credit allowed under sub-section (1).

(2-A) The tax credit to be allowed under sub-section (1-A) shall be the difference of the tax paid for any assessment year under sub-section (1) of Section 115-JB and the amount of tax payable by the assessee on his total income computed in accordance with the other provisions of this Act:

Provided that no interest shall be payable on the tax credit allowed under sub-section (1-A).

(3) The amount of tax credit determined under sub-section (2) shall be carried forward and set off in accordance with the provisions of sub-sections (4) and (5) but such carry forward shall not be allowed beyond the fifth assessment year immediately succeeding the assessment year in which tax credit becomes allowable under sub-section (1).

(3-A) The amount of tax credit determined under sub-section (2-A) shall be carried forward and set off in accordance with the provisions of sub-sections (4) and (5) but such carry forward shall not be allowed beyond the seventh assessment year immediately succeeding the assessment year in which tax credit becomes allowable under sub-section (1-A). .

In Section 115-JB of the Income Tax Act, with effect from the 1st day of April, 2007,

(i) in sub-section (1),

(a) for the words, figures and letters the 1st day of April, 2001 , the words, figures and letters the 1st day of April, 2007 shall be substituted;

(b) for the words seven and one-half per cent , at both the places where they occur, the words ten per cent shall be substituted;

(ii) in the Explanation occurring after sub-section (2),

(a) in clause (f), for the words, figures, brackets and letters Section 10 [other than the provisions contained in clause (23-G) thereof] or Section 10-A or Section 10-B or Section 11 or Section 12 apply, , the words, figures, brackets and letters Section 10 [other than the provisions contained in clause (38) thereof] or Section 10-A or Section 10-B or Section 11 or Section 12 apply; or shall be substituted;

(b) after clause (f),

(A) the following clause shall be inserted, namely:

(g) the amount of depreciation, ;

(B) for the portion beginning with the words if any amount , and ending with the words as reduced by , the following shall be substituted, namely:

if any amount referred to in clauses (a) to (g) is debited to the profit and loss account, and as reduced by ;

(c) in clause (ii), for the words, figures, brackets and letter Section 10 (other than the provisions contained in clause (23-G) thereof) , the words, figures and brackets Section 10 [other than the provisions contained in clause (38) thereof] shall be substituted;

(d) after clause (ii), the following clauses shall be inserted, namely:

(ii-a) the amount of depreciation debited to the profit and loss account (excluding the depreciation on account of revaluation of assets); or

(ii-b) the amount withdrawn from revaluation reserve and credited to the profit and loss account, to the extent it does not exceed the amount of depreciation on account of revaluation of assets referred to in clause (ii-a); or .

In Section 115-O of the Income Tax Act, in sub-section (6), the words, brackets, figures and letter not falling under clause (23-G) of Section 10 shall be omitted with effect from the 1st day of April, 2007.

In Section 115-R of the Income Tax Act, in sub-section (2), in the proviso, in clause (b), the word open-ended shall be omitted with effect from the 1st day of June, 2006.

In Section 115-T of the Income Tax Act, in the Explanation, in clause (b), with effect from the 1st day of June, 2006,

(i) the word open-ended shall be omitted;

(ii) in sub-clause (ii), for the words fifty per cent , the words sixty-five per cent shall be substituted.

In Section 115-WB of the Income Tax Act, with effect from the 1st day of April, 2007,

(a) in sub-section (2),

(i) in clause (D), in the proviso,

(A) in clause (v), the word and occurring at the end shall be omitted;

(B) after clause (vi), the following clauses shall be inserted, namely:

(vii) being the expenditure on distribution of free samples of medicines or of medical equipment, to doctors; and

(viii) being the expenditure by way of payment to any person of repute for promoting the sale of goods or services of the business of the employer, ;

(ii) in clause (F), the words and brackets tour and travel (including foreign travel) shall be omitted;

(iii) after clause (P), the following clause shall be inserted, namely:

(Q) tour and travel (including foreign travel). ;

(b) in sub-section (3), after the words payable by the employee , the words or any benefit or amenity in the nature of free or subsidised transport or any such allowance provided by the employer to his employees for journeys by the employees from their residence to the place of work or such place of work to the place of residence shall be inserted at the end.

In Section 115-WC of the Income Tax Act, with effect from the 1st day of April, 2007,

(a) in sub-section (1),

(i) for clause (b), the following clause shall be substituted, namely:

(b) the amount of contribution, referred to in clause (c) of sub-section (1) of Section 115-WB, which exceeds one lakh rupees in respect of each employee; ;

(ii) after clause (d), the following clause shall be inserted, namely:

(e) five per cent of the expenses referred to in clause (Q) of sub-section (2) of Section 115-WB. ;

(b) in sub-section (2),

(i) after clause (a), the following clauses shall be inserted, namely:

(aa) in the case of an employer engaged in the business of carriage of passengers or goods by aircraft, the value of fringe benefits for the purposes referred to in clause (B) of sub-section (2) of Section 115-WB shall be five per cent instead of twenty per cent referred to in clause (c) of sub-section (1);

(ab) in the case of an employer engaged in the business of carriage of passengers or goods by ship, the value of fringe benefits for the purposes referred to in clause (B) of sub-section (2) of Section 115-WB shall be five per cent instead of twenty per cent referred to in clause (c) of sub-section (1); ;

(ii) after clause (d), the following clauses shall be inserted, namely:

(da) in the case of an employer engaged in the business of carriage of passengers or goods by aircraft, the value of fringe benefits for the purposes referred to in clause (G) of sub-section (2) of Section 115-WB shall be five per cent instead of twenty per cent referred to in clause (c) of sub-section (1);

(db) in the case of an employer engaged in the business of carriage of passengers or goods by ship, the value of fringe benefits for the purposes referred to in clause (G) of sub-section (2) of Section 115-WB shall be five per cent instead of twenty per cent referred to in clause (c) of sub-section (1); .

In Section 120 of the Income Tax Act, in sub-section (1), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1988, namely:

Explanation. For the removal of doubts, it is hereby declared that any income tax authority, being an authority higher in rank, may, if so directed by the Board, exercise the powers and perform the functions of the income tax authority lower in rank and any such direction issued by the Board shall be deemed to be a direction issued under sub-section (1). .

In Section 139 of the Income Tax Act,

(I) in sub-section (1), in the first proviso, after clause (vi), for the words during the previous year , the words, figures and letters during any previous year ending before the 1st day of April, 2005 shall be substituted;

(II) in sub-section (9), in the Explanation,

(A) in clause (c), in sub-clause (i),

(a) for the words deducted at source , the words deducted or collected at source shall be substituted with effect from the 1st day of April, 2007;

(b) for the words, figures and letters before the 1st day of April, 2006 , the words, figures and letters before the 1st day of April, 2008 shall be substituted;

(c) in the proviso, with effect from the 1st day of April, 2007,

(i) for the words claimed to have been deducted at source , the words claimed to have been deducted or collected at source shall be substituted;

(ii) for clause (a), the following clause shall be substituted, namely:

(a) a certificate for tax deducted or collected was not furnished under Section 203 or Section 206-C to the person furnishing his return of income; ;

(B) after clause (f), the following proviso shall be inserted with effect from the 1st day of June, 2006, namely:

Provided that the Board may, by rules made by it,

(a) dispense, for a class or classes of persons, with any of the conditions specified in clauses (a) to (f); or

(b) include any of the conditions specified in clauses (a) to (f) of this Explanation in the form of return prescribed under sub-section (1) or sub-section (6) of this section. .

In Section 139-A of the Income Tax Act,

(a) after sub-section (1-A), the following sub-section shall be inserted with effect from the 1st day of June, 2006, namely:

(1-B) Notwithstanding anything contained in sub-section (1), the Central Government may, for the purpose of collecting any information which may be useful for or relevant to the purposes of this Act, by notification in the Official Gazette, specify, any class or classes of persons who shall apply to the Assessing Officer for the allotment of the permanent account number and such persons shall, within such time as mentioned in that notification, apply to the Assessing Officer for the allotment of a permanent account number. ;

(b) for sub-section (2), the following sub-section shall be substituted with effect from the 1st day of June, 2006, namely:

(2) The Assessing Officer, having regard to the nature of the transactions as may be prescribed, may also allot a permanent account number, to any other person (whether any tax is payable by him or not), in the manner and in accordance with the procedure as may be prescribed. ;

(c) in sub-section (5-B), after clause (iii), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:

(iv) in all quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of Section 200: ;

(d) in sub-section (5-C), for the word seller , the words person responsible for collecting tax shall be substituted with effect from the 1st day of April, 2007;

(e) in sub-section (5-D),

(A) in the opening portion, for the word seller , the word person shall be substituted with effect from the 1st day of April, 2007;

(B) after clause (ii), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:

(iii) in all quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of Section 206-C. .

After Section 139-A of the Income Tax Act, the following section shall be inserted with effect from the 1st day of June, 2006, namely:

139-B. Scheme for submission of returns through Tax Return Preparers. (1) For the purpose of enabling any specified class or classes of persons in preparing and furnishing returns of income, the Board may, without prejudice to the provisions of Section 139, frame a Scheme, by notification in the Official Gazette, providing that such persons may furnish their returns of income through a Tax Return Preparer authorised to act as such under the Scheme.

(2) Every Tax Return Preparer shall assist the persons furnishing the return of income in such manner as may be specified in the Scheme framed under this section and affix his signature on such return.

(3) For the purposes of this section,

(a) Tax Return Preparer means any individual, [not being a person referred to in clause (ii) or clause (iii) or clause (iv) of sub-section (2) of Section 288 or an employee of the specified class or classes of persons ], who has been authorised to act as a Tax Return Preparer under the Scheme framed under this section;

(b) specified class or classes of persons means any person, other than a company or a person, whose accounts are required to be audited under Section 44-AB or under any other law for the time being in force, who is required to furnish a return of income under this Act.

(4) The Scheme framed by the Board under this section may provide for the following, namely:

(a) the manner in which and the period for which the Tax Return Preparers shall be authorised under sub-section (3);

(b) the educational and other qualifications to be possessed, and the training and other conditions required to be fulfilled, by a person to act as a Tax Return Preparer;

(c) the code of conduct for the Tax Return Preparers;

(d) the duties and obligations of the Tax Return Preparers;

(e) the circumstances under which the authorisation given to a Tax Return Preparer may be withdrawn;

(f) any other matter which is required to be, or may be, specified by the Scheme for the purposes of this section.

(5) The Scheme framed by the Board under this section shall be laid, as soon as may be after it is framed, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the Scheme or both Houses agree that the Scheme should not be framed, the Scheme shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that Scheme. .

In Section 140-A of the Income Tax Act, with effect from the 1st day of April, 2007,

(a) in sub-section (1), for the words after taking into account the amount of tax, if any, already paid under any provision of this Act , the following shall be substituted, namely:

after taking into account,

(i) the amount of tax, if any, already paid under any provision of this Act;

(ii) any tax deducted or collected at source;

(iii) any relief of tax or deduction of tax claimed under Section 90 or Section 91 on account of tax paid in a country outside India;

(iv) any relief of tax claimed under Section 90-A on account of tax paid in any specified territory outside India referred to in that section; and

(v) any tax credit claimed to be set off in accordance with the provisions of Section 115-JAA, ;

(b) in sub-section (1-A), for clause (i), the following clause shall be substituted, namely:

(i) under Section 234-A shall be computed on the amount of the tax on the total income as declared in the return as reduced by the amount of,

(a) advance tax, if any, paid;

(b) any tax deducted or collected at source;

(c) any relief of tax or deduction of tax claimed under Section 90 or Section 91 on account of tax paid in a country outside India;

(d) any relief of tax claimed under Section 90-A on account of tax paid in any specified territory outside India referred to in that section; and

(e) any tax credit claimed to be set off in accordance with the provisions of Section 115-JAA; ;

(c) in sub-section (1-B), for the Explanation, the following Explanation shall be substituted, namely:

Explanation. For the purposes of this sub-section, assessed tax means the tax on the total income as declared in the return as reduced by the amount of,

(i) tax deducted or collected at source, in accordance with the provisions of Chapter XVII, on any income which is subject to such deduction or collection and which is taken into account in computing such total income;

(ii) any relief of tax or deduction of tax claimed under Section 90 or Section 91 on account of tax paid in a country outside India;

(iii) any relief of tax claimed under Section 90-A on account of tax paid in any specified territory outside India referred to in that section; and

(iv) any tax credit claimed to be set off in accordance with the provisions of Section 115-JAA. .

In Section 142 of the Income Tax Act, in sub-section (1), in clause (i),

(a) for the words, brackets and figures within the time allowed under sub-section (1) of Section 139 , the words, brackets and figures within the time allowed under sub-section (1) of Section 139 or before the end of the relevant assessment year shall be substituted;

(b) the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1990, namely:

Provided that where any notice has been served under this sub-section for the purposes of this clause after the end of the relevant assessment year commencing on or after the 1st day of April, 1990 to a person who has not made a return within the time allowed under sub-section (1) of Section 139 or before the end of the relevant assessment year, any such notice issued to him shall be deemed to have been served in accordance with the provisions of this sub-section. .

In Section 148 of the Income Tax Act, in sub-section (1),

(i) the following provisos shall be inserted and shall be deemed to have been inserted with effect from the 1st day of October, 1991, namely:

Provided that in a case

(a) where a return has been furnished during the period commencing on the 1st day of October, 1991 and ending on the 30th day of September, 2005 in response to a notice served under this section, and

(b) subsequently a notice has been served under sub-section (2) of Section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of Section 143, as it stood immediately before the amendment of said sub-section by the Finance Act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, reassessment or recomputation as specified in sub-section (2) of Section 153, every such notice referred to in this clause shall be deemed to be a valid notice:

Provided further that in a case

(a) where a return has been furnished during the period commencing on the 1st day of October, 1991 and ending on the 30th day of September, 2005, in response to a notice served under this section, and

(b) subsequently a notice has been served under clause (ii) of sub-section (2) of Section 143 after the expiry of twelve months specified in the proviso to clause (ii) of sub-section (2) of Section 143, but before the expiry of the time limit for making the assessment, reassessment or recomputation as specified in sub-section (2) of Section 153, every such notice referred to in this clause shall be deemed to be a valid notice. ;

(ii) after the second proviso as so inserted by clause (i), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of October, 2005, namely:

Explanation. For the removal of doubts, it is hereby declared that nothing contained in the first proviso or the second proviso shall apply to any return which has been furnished on or after the 1st day of October, 2005 in response to a notice served under this section. .

In Section 153 of the Income Tax Act, with effect from the 1st day of June, 2006,

(a) in sub-section (1), the following proviso shall be inserted, namely:

Provided that in case the assessment year in which the income was first assessable is the assessment year commencing on the 1st day of April, 2004 or any subsequent assessment year, the provisions of clause (a) shall have effect as if for the words two years , the words twenty-one months had been substituted. ;

(b) in sub-section (1-A), for the words two years , the words twenty-one months shall be substituted;

(c) in sub-section (1-B), for the words one year , the words nine months shall be substituted;

(d) in sub-section (2), after the proviso, the following proviso shall be inserted, namely:

Provided further that where the notice under Section 148 was served on or after the 1st day of April, 2005, the provisions of this sub-section shall have effect as if for the words one year , the words nine months had been substituted. ;

(e) in sub-section (2-A), after the proviso, the following proviso shall be inserted, namely:

Provided further that where the order under Section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under Section 263 or Section 264 is passed by the Commissioner on or after the 1st day of April, 2005, the provisions of this sub-section shall have effect as if for the words one year , the words nine months had been substituted. .

In Section 153-B of the Income Tax Act, in sub-section (1), after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2006, namely:

Provided further that in the case where the last of the authorisations for search under Section 132 or for requisition under Section 132-A was executed during the financial year commencing on the 1st day of April, 2004 or any subsequent financial year,

(i) the provisions of clause (a) or clause (b) of this sub-section shall have effect as if for the words two years the words twenty-one months had been substituted;

(ii) the period of limitation for making the assessment or reassessment in case of other person referred to in Section 153-C, shall be the period of twenty-one months from the end of the financial year in which the last of the authorisations for search under Section 132 or for requisition under Section 132-A was executed or nine months from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under Section 153-C to the Assessing Officer having jurisdiction over such other person, whichever is later. .

In Section 155 of the Income Tax Act, in sub-section (14), with effect from the 1st day of April, 2007,

(a) for the words and figures credit for tax deducted in accordance with the provisions of Section 199 , the words, figures and letter credit for tax deducted or collected in accordance with the provisions of Section 199 or, as the case may be, Section 206-C shall be substituted;

(b) for the word and figures Section 203 , the words, figures and letter Section 203 or Section 206-C shall be substituted;

(c) in the proviso, for the words income from which the tax has been deducted , the words income from which the tax has been deducted or income on which the tax has been collected shall be substituted.

In Section 194-A of the Income Tax Act, in sub-section (3), Explanation 2 shall be omitted.

In Section 199 of the Income Tax Act, in sub-section (3), for the figures, letters and words 1st day of April, 2006 , the figures, letters and words 1st day of April, 2008 shall be substituted.

In Section 201 of the Income Tax Act, in sub-section (1-A), after the words such tax is actually paid , occurring at the end, the words, brackets and figures and such interest shall be paid before furnishing the quarterly statement for each quarter in accordance with the provisions of sub-section (3) of Section 200 shall be inserted with effect from the 1st day of June, 2006.

In Section 203 of the Income Tax Act, in sub-section (3), for the figures, letters and words 1st day of April, 2006 , the figures, letters and words 1st day of April, 2008 shall be substituted.

In Section 203-A of the Income Tax Act, in sub-section (2), after clause (b), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:

(ba) in all the quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of Section 200 or sub-section (3) of Section 206-C; .

In Section 203-AA of the Income Tax Act, for the figures, letters and words 1st day of April, 2005 , the figures, letters and words 1st day of April, 2008 shall be substituted.

In Section 206 of the Income Tax Act, in sub-section (1), for the words responsible for deducting tax , the words, figures and letters responsible for deducting tax before the 1st day of April, 2005 shall be substituted.

In Section 206-C of the Income Tax Act,

(a) in sub-section (4), in the proviso, for the figures, letters and words 1st day of April, 2006 , the figures, letters and words 1st day of April, 2008 shall be substituted;

(b) in sub-section (5),

(i) in the first proviso, for the figures, letters and words 1st day of April, 2006 , the figures, letters and words 1st day of April, 2008 shall be substituted;

(ii) in the second proviso, for the words after the end of each financial year , the words, figures and letters after the end of each financial year beginning on or after the 1st day of April, 2008 shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2005;

(c) in sub-section (5-A), for the words collecting tax , the words, figures and letters collecting tax before the 1st day of April, 2005 shall be substituted;

(d) after sub-section (6), the following sub-section shall be inserted with effect from the 1st day of April, 2007, namely:

(6-A) If any person responsible for collecting tax in accordance with the provisions of this section does not collect the whole or any part of the tax or after collecting, fails to pay the tax as required by or under this Act, he shall, without prejudice to any other consequences which he may incur, be deemed to be an assessee in default in respect of the tax:

Provided that no penalty shall be charged under Section 221 from such person unless the Assessing Officer is satisfied that the person has without good and sufficient reasons failed to collect and pay the tax. ;

(e) in sub-section (7),

(i) for the word seller , the words person responsible for collecting tax shall be substituted with effect from the 1st day of April, 2007;

(ii) after the words tax was actually paid , occurring at the end, the words, brackets and figure and such interest shall be paid before furnishing the quarterly statement for each quarter in accordance with the provisions of sub-section (3) shall be inserted with effect from the 1st day of June, 2006;

(f) in sub-section (8), for the word seller , the words person responsible for collecting tax shall be substituted with effect from the 1st day of April, 2007.

In Section 234-A of the Income Tax Act, in sub-section (1), after clause (b), for the words, brackets and figures on the amount of the tax on the total income as determined under sub-section (1) of Section 143 or on regular assessment as reduced by the advance tax, if any, paid and any tax deducted or collected at source , the following shall be substituted with effect from the 1st day of April, 2007, namely:

on the amount of the tax on the total income as determined under sub-section (1) of Section 143, and where a regular assessment is made, on the amount of the tax on the total income determined under regular assessment, as reduced by the amount of,

(i) advance tax, if any, paid;

(ii) any tax deducted or collected at source;

(iii) any relief of tax allowed under Section 90 on account of tax paid in a country outside India;

(iv) any relief of tax allowed under Section 90-A on account of tax paid in a specified territory outside India referred to in that section;

(v) any deduction, from the Indian income tax payable, allowed under Section 91, on account of tax paid in a country outside India; and

(vi) any tax credit allowed to be set off in accordance with the provisions of Section 115-JAA. .

In Section 234-B of the Income Tax Act, in sub-section (1), for Explanation 1, the following Explanation shall be substituted with effect from the 1st day of April, 2007, namely:

Explanation 1. In this section, assessed tax means the tax on the total income determined under sub-section (1) of Section 143 and where a regular assessment is made, the tax on the total income determined under such regular assessment as reduced by the amount of,

(i) any tax deducted or collected at source in accordance with the provisions of Chapter XVII on any income which is subject to such deduction or collection and which is taken into account in computing such total income;

(ii) any relief of tax allowed under Section 90 on account of tax paid in a country outside India;

(iii) any relief of tax allowed under Section 90-A on account of tax paid in a specified territory outside India referred to in that section;

(iv) any deduction, from the Indian income tax payable, allowed under Section 91, on account of tax paid in a country outside India; and

(v) any tax credit allowed to be set off in accordance with the provisions of Section 115-JAA. .

In Section 234-C of the Income Tax Act, in sub-section (1), for the Explanation, the following Explanation shall be substituted with effect from the 1st day of April, 2007, namely:

Explanation. In this section, tax due on the returned income means the tax chargeable on the total income declared in the return of income furnished by the assessee for the assessment year commencing on the 1st day of April immediately following the financial year in which the advance tax is paid or payable, as reduced by the amount of,

(i) any tax deductible or collectible at source in accordance with the provisions of Chapter XVII on any income which is subject to such deduction or collection and which is taken into account in computing such total income;

(ii) any relief of tax allowed under Section 90 on account of tax paid in a country outside India;

(iii) any relief of tax allowed under Section 90-A on account of tax paid in a specified territory outside India referred to in that section;

(iv) any deduction, from the Indian income tax payable, allowed under Section 91, on account of tax paid in a country outside India; and

(v) any tax credit allowed to be set off in accordance with the provisions of Section 115-JAA. .

In Section 246-A of the Income Tax Act, in sub-section (1), in clause (n), for the word, figures and letter Section 271-C , the words, figures and letters Section 271-C, Section 271-CA shall be substituted with effect from the 1st day of April, 2007.

After Section 271-C of the Income Tax Act, the following section shall be inserted with effect from the 1st day of April, 2007, namely:

271-CA. Penalty for failure to collect tax at source. (1) If any person fails to collect the whole or any part of the tax as required by or under the provisions of Chapter XVII-BB, then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to collect as aforesaid.

(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner. .

In Section 272-A of the Income Tax Act, in sub-section (2), in the proviso, after the words, figures and letter returns under Sections 206 and 206-C , the words, brackets, figures and letter and statements under sub-section (3) of Section 200 or the proviso to sub-section (3) of Section 206-C shall be inserted with effect from the 1st day of June, 2006.

In Section 272-BB of the Income Tax Act, with effect from the 1st day of June, 2006,

(i) after sub-section (1), the following sub-section shall be inserted, namely:

(1-A) If a person who is required to quote his tax deduction account number or, as the case may be, tax collection account number or tax deduction and collection account number in the challans or certificates or statements or other documents referred to in sub-section (2) of Section 203-A, quotes a number which is false, and which he either knows or believes to be false or does not believe to be true, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees. ;

(ii) in sub-section (2), after the word, brackets and figure sub-section (1) , the words, brackets, figure and letter or sub-section (1-A) shall be inserted.

In Section 273-B of the Income Tax Act,

(a) for the word, figures and letter Section 271-C , the words, figures and letters Section 271-C, Section 271-CA shall be substituted with effect from the 1st day of April, 2007;

(b) for the words, brackets, figures and letters sub-section (1) of Section 272-BB , the words, brackets, figures and letters sub-section (1) or sub-section (1-A) of Section 272-BB shall be substituted with effect from the 1st day of June, 2006.

In the Fourth Schedule to the Income Tax Act, in Part A, with effect from the 1st day of April, 2007,

(a) in Rule 3, after sub-rule (1), the following proviso shall be inserted, namely:

Provided that in a case where recognition has been accorded to any provident fund on or before the 31st day of March, 2006 and such provident fund does not satisfy the conditions set out in clause (ea) of Rule 4, the recognition to such fund shall be withdrawn, if such fund does not satisfy, on or before the 31st day of March, 2007, the conditions set out in the said clause and any other condition which the Board may, by rules specify, in this behalf. ;

(b) in Rule 4, after clause (e), the following clause shall be inserted, namely:

(ea) the fund of an establishment to which the provisions of sub-section (3) or sub-section (4) of Section 1 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952) apply, and such establishment has been exempted under Section 17 of the said Act from the operation of all or any of the provisions of any Scheme referred to in that section; .

Wealth tax

In Section 17-A of the Wealth Tax Act, with effect from the 1st day of June, 2006,

(a) in sub-section (1), after the proviso, the following proviso shall be inserted, namely:

Provided further that in case the assessment year in which the net wealth was first assessable is the assessment year commencing on the 1st day of April, 2004 or any subsequent year, the provisions of this sub-section shall have effect as if for the words two years , the words twenty-one months had been substituted. ;

(b) in sub-section (2), after the proviso, the following proviso shall be inserted, namely:

Provided further that where the notice under sub-section (1) of Section 17 was served on or after the 1st day of April, 2005, the provisions of this sub-section shall have effect as if for the words one year , the words nine months had been substituted. ;

(c) in sub-section (3), after the proviso, the following proviso shall be inserted, namely:

Provided further that where the order under Section 23-A or Section 24 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under Section 25 is passed by the Commissioner, on or after the 1st day of April, 2005, the provisions of this sub-section shall have effect as if for the words one year , the words nine months had been substituted. .

INDIRECT TAXES

Customs

In Section 23 of the Customs Act, 1962 (52 of 1962) (hereinafter referred to as the Customs Act), in sub-section (2), the following proviso shall be inserted, namely:

Provided that the owner of any such imported goods shall not be allowed to relinquish his title to such goods regarding which an offence appears to have been committed under this Act or any other law for the time being in force. .

In Section 68 of the Customs Act, after the proviso, the following proviso shall be inserted, namely:

Provided further that the owner of any such warehoused goods shall not be allowed to relinquish his title to such goods regarding which an offence appears to have been committed under this Act or any other law for the time being in force. .

(1) The notifications of the Government of India in the Ministry of Finance (Department of Revenue), Numbers G.S.R. 423(E), dated the 20th April, 1992 and G.S.R. 619(E), dated the 17th September, 2004, issued under sub-section (1) of Section 25 of the Customs Act, shall stand amended and shall be deemed to have been amended in the manner as specified against each of them in column (3) of the Second Schedule, on and from the corresponding date mentioned in column (4) of that Schedule, retrospectively, and accordingly, notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority, any action taken or anything done or purported to have been taken or done under the said notifications, shall be deemed to be, and always to have been, for all purposes, as validly and effectively taken or done as if the notifications as amended by this sub-section had been in force at all material times.

(2) Notwithstanding the expiration of the notifications referred to in sub-section (1), the Central Government shall have and shall be deemed to have the power to amend the notifications referred to in the said sub-section with retrospective effect as if the Central Government had the power to amend the said notifications under sub-section (1) of Section 25 of the Customs Act, retrospectively, at all material times.

Explanation. For the removal of doubts, it is hereby declared that no act or omission on the part of any person shall be punishable as an offence which would not have been so punishable if this section had not come into force.

Customs tariff

In Section 9 of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act),

(a) in sub-section (1), in the Explanation, in clause (a), for the words within the territory of the exporting or producing country , the words in the exporting or producing country or territory shall be substituted;

(b) after sub-section (7), the following sub-section shall be inserted, namely:

(7-A) Unless otherwise provided, the provisions of the Customs Act, 1962 (52 of 1962) and the rules and regulations made thereunder, relating to the date for determination of rate of duty, non-levy, short-levy, refunds, interest, appeals, offences and penalties shall, as far as may be, apply to the duty chargeable under this section as they apply in relation to duties leviable under that Act. .

In Section 9-A of the Customs Tariff Act, in sub-section (1), in the Explanation, in clause (c), in sub-clause (i), for the words meant for consumption , the words destined for consumption shall be substituted.

In the Customs Tariff Act, the First Schedule shall,

(a) be amended in the manner specified in the Third Schedule; and

(b) with effect from the 1st day of January, 2007, be also amended in the manner specified in the Fourth Schedule.

Excise

In Section 12-C of the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the Central Excise Act), in sub-section (2), after clause (c), the following clause shall be inserted, namely:

(d) the surplus amount referred to in sub-section (6) of Section 73-A of the Finance Act, 1994 (32 of 1994). .

In Section 23-C of the Central Excise Act, in sub-section (2), after clause (e), the following clause shall be inserted, namely:

(f) determination of the liability to pay duties of excise on any goods under this Act. .

In the Central Excise Act, the Third Schedule shall,

(a) with effect from the 1st day of January, 2007, be amended in the manner specified in Part I of the Fifth Schedule; and

(b) with effect from such date as the Central Government may, by notification in the Official Gazette, appoint, be also amended in the manner specified in Part II of the said Fifth Schedule.

Excise tariff

In the Central Excise Tariff Act, 1985, the First Schedule shall,

(a) be amended in the manner specified in the Sixth Schedule; and

(b) with effect from the 1st day of January, 2007, be also amended in the manner specified in the Seventh Schedule.

Service tax

In the Finance Act, 1994,

(A) in Section 65, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint,

(1) in clause (3), for the words commercial concern , the word person shall be substituted;

(2) for clause (3-b), the following clause shall be substituted, namely:

(3-b) aircraft operator means any person who provides the service of transport of goods or passengers by aircraft; ;

(3) after clause (7), the following clause shall be inserted, namely:

(7-a) auction of property includes calling the auction or providing a facility, advertising or illustrating services, pre-auction price estimates, short-term storage services, repair or restoration services in relation to auction of property; ;

(4) after clause (9), the following clauses shall be inserted, namely:

(9-a) automated teller machine means an interactive automatic machine designed to dispense cash, accept deposit of cash, transfer money between bank accounts and facilitate other financial transactions;

(9-b) automated teller machine operations, maintenance or management service means any service provided in relation to automated teller machines and includes site selection, contracting of location, acquisition, financing, installation, certification, connection, maintenance, transaction processing, cash forecasting, replenishment, reconciliation and value-added services;

(9-c) banker to an issue means a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), carrying on the activities relating to an issue including acceptance of application, application money, allotment money and call money, refund of application money, payment of dividend and interest warrants; ;

(5) in clause (12), in sub-clause (a),

(a) for the words commercial concern , the words any other person shall be substituted;

(b) item (ii) shall be omitted;

(c) for item (viii), the following items shall be substituted, namely:

(viii) banker to an issue services; and

(ix) other financial services, namely, lending, issue of pay order, demand draft, cheque, letter of credit and bill of exchange, transfer of money including telegraphic transfer, mail transfer and electronic transfer, providing bank guarantee, overdraft facility, bill discounting facility, safe deposit locker, safe vaults, operation of bank accounts; ;

(6) in clause (19), in the Explanation, in clause (b), for the words developing or maintaining of computer software, or computerised data processing , the words or developing of computer software shall be substituted;

(7) in clause (31), for the words an engineering firm , the words any body corporate or any other firm shall be substituted;

(8) in clause (33), for the words a commercial concern , the words any person shall be substituted;

(9) after clause (33), the following clause shall be inserted, namely:

(33-a) credit card, debit card, charge card or other payment card service includes any service provided,

(i) by a banking company, financial institution including non-banking financial company or any other person (hereinafter referred to as the issuing bank), issuing such card to a card holder;

(ii) by any person to an issuing bank in relation to such card business, including receipt and processing of application, transfer of embossing data to issuing bank's personalisation agency, automated teller machine personal identification number generation, renewal or replacement of card, change of address, enhancement of credit limit, payment updation and statement generation;

(iii) by any person, including an issuing bank and an acquiring bank, to any other person in relation to settlement of any amount transacted through such card.

Explanation. For the purposes of this sub-clause, acquiring bank means any banking company, financial institution including non-banking financial company or any other person, who makes the payment to any person who accepts such card;

(iv) in relation to joint promotional cards or affinity cards or co-branded cards;

(v) in relation to promotion and marketing of goods and services through such card;

(vi) by a person, to an issuing bank or the holder of such card, for making use of automated teller machines of such person; and

(vii) by the owner of trade marks or brand name to the issuing bank under an agreement, for use of the trade mark or brand name and other services in relation to such card, whether or not such owner is a club or association and the issuing bank is a member of such club or association.

Explanation. For the purposes of this sub-clause, an issuing bank and the owner of trade marks or brand name shall be treated as separate persons; ;

(10) in clause (34), for the words commercial concern , the word person shall be substituted;

(11) after clause (35), the following clause shall be inserted, namely:

(35-a) customs airport means an airport appointed as such under clause (a) of sub-section (1) of Section 7 of the Customs Act, 1962 (52 of 1962); ;

(12) in clause (38), for the words commercial concern , the word person shall be substituted;

(13) in clause (39-a), in sub-clause (i), for the words machinery or equipment , the words machinery, equipment or structures, whether pre-fabricated or otherwise shall be substituted;

(14) in clause (50-b), for the words commercial concern which , the words person who shall be substituted;

(15) after clause (56), the following clauses shall be inserted, namely:

(56-a) international journey , in relation to a passenger, means his journey from any customs airport on board any aircraft to a place outside India;

(56-b) internet means a global information system which is logically linked together by a globally unique address, based on Internet Protocol or its subsequent enhancements or upgradations and is able to support communications using the Transmission Control Protocol or Internet Protocol suite or its subsequent enhancements or upgradations and all other Internet Protocol compatible protocols; ;

(16) after clause (57), the following clause shall be inserted, namely:

(57-a) internet telephony means telecommunication service through internet and includes fax, audio conferencing and video conferencing; ;

(17) in clause (58), for the words in India , the words and includes a re-insurer shall be substituted;

(18) after clause (59), the following clause shall be inserted, namely:

(59-a) issue means an offer of sale or purchase of securities to, or from, the public or the holder of securities; ;

(19) for clause (64), the following clause shall be substituted, namely:

(64) management, maintenance or repair means any service provided by

(i) any person under a contract or an agreement; or

(ii) a manufacturer or any person authorised by him, in relation to,

(a) management of properties, whether immovable or not;

(b) maintenance or repair of properties, whether immovable or not; or

(c) maintenance or repair including reconditioning or restoration, or servicing of any goods, excluding a motor vehicle; ;

(20) in clause (65), for the words relating to conceptualising, devising, development, modification, rectification or upgradation of any working system of any organisation , the words in relation to financial management, human resources management, marketing management, production management, logistics management, procurement and management of information technology resources or other similar areas of management shall be substituted;

(21) in clauses (68) and (69), for the words commercial concern wherever they occur, the word person shall be substituted;

(22) after clause (77-b), the following clause shall be inserted, namely:

(77-c) passenger means any person boarding, at any customs airport, an aircraft for performing an international journey, but does not include

(i) a person who has arrived at such customs airport from a place outside India and is in transit through India, provided that he does not pass through immigration and does not leave customs area and continues his journey to a place outside India; and

(ii) a person employed or engaged by the aircraft operator in any capacity on board the aircraft; ;

(23) in clause (79), for the words a commercial concern , the words any person shall be substituted;

(24) in clause (86-b), for the words a commercial concern which , the words any person who shall be substituted;

(25) after clause (86-b), the following clause shall be inserted, namely:

(86-c) public relations includes strategic counselling based on industry, media and perception research, corporate image management, media relations, media training, press release, press conference, financial public relations, brand support, brand launch, retail support and promotions, events and communications and crisis communications; ;

(26) after clause (89-b), the following clause shall be inserted, namely:

(89-c) registrar to an issue means any person carrying on the activities in relation to an issue including collecting application forms from investors, keeping a record of applications and money received from investors or paid to the seller of securities, assisting in determining the basis of allotment of securities, finalising the list of persons entitled to allotment of securities and processing and despatching allotment letters, refund orders or certificates and other related documents; ;

(27) in clause (94), for the words commercial concern , the word person shall be substituted;

(28) after clause (95), the following clause shall be inserted, namely:

(95-a) share transfer agent means any person who maintains the record of holders of securities and deals with all matters connected with the transfer or redemption of securities or activities incidental thereto; ;

(29) after clause (96), the following clause shall be inserted, namely:

(96-a) ship management service includes,

(i) the supervision of the maintenance, survey and repair of ship;

(ii) engagement or providing of crews;

(iii) receiving the hire or freight charges on behalf of the owner;

(iv) arrangements for loading and unloading;

(v) providing for victualling or storing of ship;

(vi) negotiating contracts for bunker fuel and lubricating oil;

(vii) payment, on behalf of the owner, of expenses incurred in providing services or in relation to the management of ship;

(viii) the entry of ship in a protection or indemnity association;

(ix) dealing with insurance, salvage and other claims; and

(x) arranging of insurance in relation to ship; ;

(30) in clause (99), for the words commercial concern , the word person shall be substituted;

(31) after clause (99), the following clause shall be inserted, namely:

(99-a) sponsorship includes naming an event after the sponsor, displaying the sponsor's company logo or trading name, giving the sponsor exclusive or priority booking rights, sponsoring prizes or trophies for competition; but does not include any financial or other support in the form of donations or gifts, given by the donors subject to the condition that the service provider is under no obligation to provide anything in return to such donors; ;

(32) after clause (104-b), the following shall be inserted, namely:

(104-c) support services of business or commerce means services provided in relation to business or commerce and includes evaluation of prospective customers, telemarketing, processing of purchase orders and fulfilment services, information and tracking of delivery schedules, managing distribution and logistics, customer relationship management services, accounting and processing of transactions, operational assistance for marketing, formulation of customer service and pricing policies, infrastructural support services and other transaction processing.

Explanation. For the purposes of this clause, the expression infrastructural support services includes providing office along with office utilities, lounge, reception with competent personnel to handle messages, secretarial services, internet and telecom facilities, pantry and security; ;

(33) in clause (105),

(a) for the words policy holder wherever they occur, the words policy holder or any person shall be substituted;

(b) for the word insurer wherever it occurs, the words insurer, including re-insurer shall be substituted;

(c) in sub-clause (zc), for the words commercial concern , the word person shall be substituted;

(d) in sub-clause (zh), for the words a commercial concern , the words any person shall be substituted;

(e) in sub-clause (zm), for the words commercial concern , the words any other person shall be substituted;

(f) in sub-clause (zzb), for the words a commercial concern , the words any person shall be substituted;

(g) in sub-clause (zzg), for the words maintenance or repair , the words management, maintenance or repair shall be substituted;

(h) in sub-clause (zzq), for the words a commercial concern , the words any other person shall be substituted;

(i) after sub-clause (zzzh), the following shall be inserted, namely:

(zzzi) to any person, by a registrar to an issue, in relation to sale or purchase of securities;

(zzzj) to any person, by a share transfer agent, in relation to securities;

(zzzk) to any person, by any other person, in relation to automated teller machine operations, maintenance or management service, in any manner;

(zzzl) to a banking company or a financial institution including a non-banking financial company or any other body corporate or a firm, by any person, in relation to recovery of any sums due to such banking company or financial institution, including a non-banking financial company, or any other body corporate or a firm, in any manner;

(zzzm) to any person, by any other person, in relation to sale of space or time for advertisement, in any manner; but does not include sale of space for advertisement in print media and sale of time slots by a broadcasting agency or organisation.

Explanation 1. For the purposes of this sub-clause, sale of space or time for advertisement includes,

(i) providing space or time, as the case may be, for display, advertising, showcasing of any product or service in video programmes, television programmes or motion pictures or music albums, or on billboards, public places, buildings, conveyances, cell phones, automated teller machines, internet;

(ii) selling of time slots on radio or television by a person, other than a broadcasting agency or organisation; and

(iii) aerial advertising.

Explanation 2. For the purposes of this sub-clause, print media means book and newspaper as defined in sub-section (1) of Section 1 of the Press and Registration of Books Act, 1867 (25 of 1867);

(zzzn) to any body corporate or firm, by any person receiving sponsorship, in relation to such sponsorship, in any manner, but does not include services in relation to sponsorship of sports events;

(zzzo) to any passenger, by an aircraft operator, in relation to scheduled or non-scheduled air transport of such passenger embarking in India for international journey, in any class other than economy class.

Explanation 1. For the purposes of this sub-clause, economy class in an aircraft meant for scheduled air transport of passengers means,

(i) where there is more than one class of travel, the class attracting the lowest standard fare; or

(ii) where there is only one class of travel, that class.

Explanation 2. For the purposes of this sub-clause, in an aircraft meant for non-scheduled air transport of passengers, no class of travel shall be treated as economy class;

(zzzp) to any person, by any other person other than Government railway as defined in clause (20) of Section 2 of the Railways Act, 1989 (24 of 1989), in relation to transport of goods in containers by rail, in any manner;

(zzzq) to any person, by any other person, in relation to support services of business or commerce, in any manner;

(zzzr) to any person, by any other person, in relation to auction of property, movable or immovable, tangible or intangible, in any manner, but does not include auction of property under the directions or orders of a court of law or auction by the Government;

(zzzs) to any person, by any other person, in relation to managing the public relations of such person, in any manner;

(zzzt) to any person, under a contract or an agreement, by any other person, in relation to ship management service;

(zzzu) to any person, by any other person, in relation to internet telephony;

(zzzv) to any person, by any other person, in relation to transport of such person embarking from any port or other port in India, by a cruise ship.

Explanation. For the purposes of this sub-clause, cruise ship means a ship or vessel used for providing recreational or pleasure trips, but does not include a ship or vessel used for private purposes or a ship or vessel of, or less than, fifteen net tonnage;

(zzzw) to any person, by any other person, in relation to credit card, debit card, charge card or other payment card service, in any manner; ;

(j) the Explanation occurring at the end shall be omitted;

(34) in clause (106), the following Explanation shall be inserted, namely:

Explanation. For the removal of doubts, it is hereby declared that for the purposes of this clause, technical testing and analysis includes testing and analysis undertaken for the purpose of clinical testing of drugs and formulations; but does not include testing or analysis for the purpose of determination of the nature of diseased condition, identification of a disease, prevention of any disease or disorder in human beings or animals; ;

(35) after clause (121), the following Explanation shall be inserted, namely:

Explanation. For the purposes of this section, taxable service includes any taxable service provided or to be provided by any unincorporated association or body of persons to a member thereof, for cash, deferred payment or any other valuable consideration. ;

(B) in Section 66,

(1) for the words ten per cent , the words twelve per cent shall be substituted;

(2) with effect from such date as the Central Government may, by notification in the Official Gazette, appoint, for the word, brackets and letters and (zzzh) , the brackets, letters and word , (zzzh), (zzzi), (zzzj), (zzzk), (zzzl), (zzzm), (zzzn), (zzzo), (zzzp), (zzzq), (zzzr), (zzzs), (zzzt), (zzzu), (zzzv) and (zzzw) shall be substituted;

(C) after Section 66, the following section shall be inserted, namely:

66-A. Charge of service tax on services received from outside India. (1) Where any service specified in clause (105) of Section 65 is,

(a) provided or to be provided by a person who has established a business or has a fixed establishment from which the service is provided or to be provided or has his permanent address or usual place of residence, in a country other than India, and

(b) received by a person (hereinafter referred to as the recipient) who has his place of business, fixed establishment, permanent address or usual place of residence, in India,

such service shall, for the purposes of this section, be the taxable service, and such taxable service shall be treated as if the recipient had himself provided the service in India, and accordingly all the provisions of this Chapter shall apply:

Provided that where the recipient of the service is an individual and such service received by him is otherwise than for the purpose of use in any business or commerce, the provisions of this sub-section shall not apply:

Provided further that where the provider of the service has his business establishment both in that country and elsewhere, the country, where the establishment of the provider of service directly concerned with the provision of service is located, shall be treated as the country from which the service is provided or to be provided.

(2) Where a person is carrying on a business through a permanent establishment in India and through another permanent establishment in a country other than India, such permanent establishments shall be treated as separate persons for the purposes of this section.

Explanation 1. A person carrying on a business through a branch or agency in any country shall be treated as having a business establishment in that country.

Explanation 2. Usual place of residence, in relation to a body corporate, means the place where it is incorporated or otherwise legally constituted. ;

(D) for Section 67, the following section shall be substituted, namely:

67. Valuation of taxable services for charging service tax. (1) Subject to the provisions of this Chapter, where service tax is chargeable on any taxable service with reference to its value, then such value shall,

(i) in a case where the provision of service is for a consideration in money, be the gross amount charged by the service provider for such service provided or to be provided by him;

(ii) in a case where the provision of service is for a consideration not wholly or partly consisting of money, be such amount in money as, with the addition of service tax charged, is equivalent to the consideration;

(iii) in a case where the provision of service is for a consideration which is not ascertainable, be the amount as may be determined in the prescribed manner.

(2) Where the gross amount charged by a service provider, for the service provided or to be provided is inclusive of service tax payable, the value of such taxable service shall be such amount as, with the addition of tax payable, is equal to the gross amount charged.

(3) The gross amount charged for the taxable service shall include any amount received towards the taxable service before, during or after the provision of such service.

(4) Subject to the provisions of sub-sections (1), (2) and (3), the value shall be determined in such manner as may be prescribed.

Explanation. For the purposes of this section,

(a) consideration includes any amount that is payable for the taxable services provided or to be provided;

(b) money includes any currency, cheque, promissory note, letter of credit, draft, pay order, travellers cheque, money order, postal remittance and other similar instruments but does not include currency that is held for its numismatic value;

(c) gross amount charged includes payment by cheque, credit card, deduction from account and any form of payment by issue of credit notes or debit notes and book adjustment. ;

(E) in Section 73,

(a) after sub-section (1), the following sub-section shall be inserted, namely:

(1-A) Where any service tax has not been levied or paid or has been short-levied or short-paid or erroneously refunded, by reason of fraud, collusion or any wilful misstatement or suppression of facts, or contravention of any of the provisions of this Chapter or the rules made thereunder, with intent to evade payment of service tax, by such person or his agent, to whom a notice is served under the proviso to sub-section (1) by the Central Excise Officer, such person or agent may pay service tax in full or in part as may be accepted by him, and the interest payable thereon under Section 75 and penalty equal to twenty-five per cent of the service tax specified in the notice or the service tax so accepted by such person within thirty days of the receipt of the notice. ;

(b) in sub-section (2), the following provisos shall be inserted, namely:

Provided that where such person has paid the service tax in full together with interest and penalty under sub-section (1-A), the proceedings in respect of such person and other persons to whom notices are served under sub-section (1) shall be deemed to be concluded:

Provided further that where such person has paid service tax in part along with interest and penalty under sub-section (1-A), the Central Excise Officer shall determine the amount of service tax or interest not being in excess of the amount partly due from such person. ;

(F) after Section 73, the following sections shall be inserted, namely:

73-A. Service tax collected from any person to be deposited with Central Government. (1) Any person who is liable to pay service tax under the provisions of this Chapter or the rules made thereunder, and has collected any amount in excess of the service tax assessed or determined and paid on any taxable service under the provisions of this Chapter or the rules made thereunder from the recipient of taxable service in any manner as representing service tax, shall forthwith pay the amount so collected to the credit of the Central Government.

(2) Where any person who has collected any amount, which is not required to be collected, from any other person, in any manner as representing service tax, such person shall forthwith pay the amount so collected to the credit of the Central Government.

(3) Where any amount is required to be paid to the credit of the Central Government under sub-section (1) or sub-section (2) and the same has not been so paid, the Central Excise Officer shall serve, on the person liable to pay such amount, a notice requiring him to show cause why the said amount, as specified in the notice, should not be paid by him to the credit of the Central Government.

(4) The Central Excise Officer shall, after considering the representation, if any, made by the person on whom the notice is served under sub-section (3), determine the amount due from such person, not being in excess of the amount specified in the notice, and thereupon such person shall pay the amount so determined.

(5) The amount paid to the credit of the Central Government under sub-section (1) or sub-section (2) or sub-section (4), shall be adjusted against the service tax payable by the person on finalisation of assessment or any other proceeding for determination of service tax relating to the taxable service referred to in sub-section (1).

(6) Where any surplus amount is left after the adjustment under sub-section (5), such amount shall either be credited to the Consumer Welfare Fund referred to in Section 12-C of the Central Excise Act, 1944 (1 of 1944) or, as the case may be, refunded to the person who has borne the incidence of such amount, in accordance with the provisions of Section 11-B of the said Act and such person may make an application under that section in such cases within six months from the date of the public notice to be issued by the Central Excise Officer for the refund of such surplus amount.

73-B. Interest on amount collected in excess. Where an amount has been collected in excess of the tax assessed or determined and paid for any taxable service under this Chapter or the rules made thereunder from the recipient of such service, the person who is liable to pay such amount as determined under sub-section (4) of Section 73-A, shall, in addition to the amount, be liable to pay interest at such rate not below ten per cent and not exceeding twenty-four per cent per annum, as is for the time being fixed by the Central Government, by notification in the Official Gazette, from the first day of the month succeeding the month in which the amount ought to have been paid under this Chapter, but for the provisions contained in sub-section (4) of Section 73-A, till the date of payment of such amount:

Provided that in such cases where the amount becomes payable consequent to issue of an order, instruction or direction by the Board under Section 37-B of the Central Excise Act, 1944 (1 of 1944), and such amount payable is voluntarily paid in full, without reserving any right to appeal against such payment at any subsequent stage, within forty-five days from the date of issue of such order, instruction or direction, as the case may be, no interest shall be payable and in other cases, the interest shall be payable on the whole amount, including the amount already paid.

Explanation 1. Where the amount determined under sub-section (4) of Section 73-A is reduced by the Commissioner (Appeals), the Appellate Tribunal or, as the case may be, the court, the interest payable thereon under this section shall be on such reduced amount.

Explanation 2. Where the amount determined under sub-section (4) of Section 73-A is increased by the Commissioner (Appeals), the Appellate Tribunal or, as the case may be, the court, the interest payable thereon under this section shall be on such increased amount.

73-C. Provisional attachment to protect revenue in certain cases. (1) Where, during the pendency of any proceeding under Section 73 or Section 73-A, the Central Excise Officer is of the opinion that for the purpose of protecting the interests of revenue, it is necessary so to do, he may, with the previous approval of the Commissioner of Central Excise, by order in writing, attach provisionally any property belonging to the person on whom notice is served under sub-section (1) of Section 73 or sub-section (3) of Section 73-A, as the case may be, in such manner as may be prescribed.

(2) Every such provisional attachment shall cease to have effect after the expiry of a period of six months from the date of the order made under sub-section (1):

Provided that the Chief Commissioner of Central Excise may, for reasons to be recorded in writing, extend the aforesaid period by such further period or periods as he thinks fit, so, however, that the total period of extension shall not in any case exceed two years.

73-D. Publication of information in respect of persons in certain cases. (1) If the Central Government is of the opinion that it is necessary or expedient in the public interest to publish the name of any person and any other particulars relating to any proceedings under this Chapter in respect of such person, it may cause to be published such names and particulars in such manner as may be prescribed.

(2) No publication under this section shall be made in relation to any penalty imposed under this Chapter until the time for presenting an appeal to the Commissioner (Appeals) under Section 85 or the Appellate Tribunal under Section 86, as the case may be, has expired without an appeal having been presented or the appeal, if presented, has been disposed of.

Explanation. In the case of a firm, company or other association of persons, the names of the partners of the firm, directors, managing agents, secretaries and treasurers or managers of the company, or the members of the association, as the case may be, shall also be published if, in the opinion of the Central Government, circumstances of the case justify it. ;

(G) for Section 76, the following section shall be substituted, namely:

76. Penalty for failure to pay service tax. Any person, liable to pay service tax in accordance with the provisions of Section 68 or the rules made under this Chapter, who fails to pay such tax, shall pay, in addition to such tax and the interest on that tax in accordance with the provisions of Section 75, a penalty which shall not be less than two hundred rupees for every day during which such failure continues or at the rate of two per cent of such tax, per month, whichever is higher, starting with the first day after the due date till the date of actual payment of the outstanding amount of service tax:

Provided that the total amount of the penalty payable in terms of this section shall not exceed the service tax payable.

X, an assessee, fails to pay service tax of Rs 10 lakhs payable by 5th March. X pays the amount on 15th March. The default has continued for 10 days. The penalty payable by X is computed as follows:

2% of the amount of default for 10 days = 2 10,00,000 10/31 = Rs 6451.61

Penalty calculated @ Rs 200 per day for 10 days = Rs 2000

Penalty liable to be paid is Rs 6452.00. ;

(H) in Section 83, the figures and letter 11 and 11-D shall be omitted;

(I) after Section 86, the following section shall be inserted, namely:

87. Recovery of any amount due to Central Government. Where any amount payable by a person to the credit of the Central Government under any of the provisions of this Chapter or of the rules made thereunder is not paid, the Central Excise Officer shall proceed to recover the amount by one or more of the modes mentioned below:

(a) the Central Excise Officer may deduct or may require any other Central Excise Officer or any officer of customs to deduct the amount so payable from any money owing to such person which may be under the control of the said Central Excise Officer or any officer of customs;

(b)(i) the Central Excise Officer may, by notice in writing, require any other person from whom money is due or may become due to such person, or who holds or may subsequently hold money for or on account of such person, to pay to the credit of the Central Government either forthwith upon the money becoming due or being held or at or within the time specified in the notice, not being before the money becomes due or is held, so much of the money as is sufficient to pay the amount due from such person or the whole of the money when it is equal to or less than that amount;

(ii) every person to whom a notice is issued under this section shall be bound to comply with such notice, and in particular, where any such notice is issued to a post office, banking company or an insurer, it shall not be necessary to produce any pass book, deposit receipt, policy or any other document for the purpose of any entry, endorsement or the like being made before payment is made, notwithstanding any rule, practice or requirement to the contrary;

(iii) in a case where the person to whom a notice under this section is sent, fails to make the payment in pursuance thereof to the Central Government, he shall be deemed to be an assessee in default in respect of the amount specified in the notice and all the consequences of this Chapter shall follow;

(c) the Central Excise Officer may, on an authorisation by the Commissioner of Central Excise, in accordance with the rules made in this behalf, distrain any movable or immovable property belonging to or under the control of such person, and detain the same until the amount payable is paid; and in case, any part of the said amount payable or of the cost of the distress or keeping of the property, remains unpaid for a period of thirty days next after any such distress, may cause the said property to be sold and with the proceeds of such sale, may satisfy the amount payable and the costs including cost of sale remaining unpaid and shall render the surplus amount, if any, to such person;

(d) the Central Excise Officer may prepare a certificate signed by him specifying the amount due from such person and send it to the Collector of the district in which such person owns any property or resides or carries on his business and the said Collector, on receipt of such certificate, shall proceed to recover from such person the amount specified thereunder as if it were an arrear of land revenue. ;

(J) after Section 93, the following section shall be inserted, namely:

93-A. Power to grant rebate. Where any goods or services are exported, the Central Government may grant rebate of service tax paid on taxable services which are used as input services for the manufacturing or processing of such goods or for providing any taxable services and such rebate shall be subject to such extent and manner as may be prescribed:

Provided that where any rebate has been allowed on any goods or services under this section and the sale proceeds in respect of such goods or consideration in respect of such services are not received by or on behalf of the exporter in India within the time allowed by the Reserve Bank of India under Section 8 of the Foreign Exchange Management Act, 1999 (42 of 1999), such rebate shall be deemed never to have been allowed and the Central Government may recover or adjust the amount of such rebate in such manner as may be prescribed. ;

(K) in Section 94, in sub-section (2),

(1) after clause (a), the following clause shall be inserted, namely:

(aa) the determination of amount and value of taxable service under Section 67; ;

(2) after clause (c), the following clauses shall be inserted, namely:

(cc) the manner of provisional attachment of property under sub-section (1) of Section 73-C;

(ccc) publication of name of any person and particulars relating to any proceeding under sub-section (1) of Section 73-D; ;

(3) after clause (eee), the following clause shall be inserted, namely:

(eeee) the manner of recovery of any amount due to the Central Government under Section 87; ;

(4) after clause (h), the following clause shall be inserted, namely:

(hh) rebate of service tax paid or payable on the taxable services used as input services in the manufacturing or processing of goods exported out of India under Section 93-A; ;

(L) in Section 95, after sub-section (1-B), the following sub-section shall be inserted, namely:

(1-C) If any difficulty arises in respect of implementing, classifying or assessing the value of any taxable service incorporated in this Chapter by the Finance Act, 2006, the Central Government may, by order published in the Official Gazette, not inconsistent with the provisions of this Chapter, remove the difficulty:

Provided that no such order shall be made after the expiry of a period of one year from the date on which the Finance Bill, 2006 receives the assent of the President. ;

(M) in Section 96-C, in sub-section (2), after clause (e), the following clause shall be inserted, namely:

(f) determination of the liability to pay service tax on a taxable service under the provisions of Chapter V. .

MISCELLANEOUS

In the Indian Stamp Act, 1899

(a) in Section 9, in sub-section (2), in clause (a), for the words Seventh Schedule to the Constitution , the words, brackets, letter and figure Seventh Schedule to the Constitution, except the subject-matters referred to in clause (b) of sub-section (1) shall be substituted;

(b) in Section 35, in clause (a) to the proviso, for the words not being an instrument chargeable with a duty not exceeding ten naye paise only, or a bill of exchange or promissory note, shall, subject to all just exceptions, , the word shall shall be substituted.

The Promissory Notes (Stamp) Act, 1926, is hereby repealed:

Provided that such repeal shall not affect

(a) the previous operation of the said Act or anything duly done or suffered thereunder;

(b) any right, privilege, obligation or liability acquired, accrued or incurred under the said Act; and

(c) the validation of execution of any promissory note under the said Act.

In the Central Sales Tax Act, 1956, in Section 14, after clause (v), the following clause shall be inserted, namely:

(v-a) liquefied petroleum gas for domestic use; .

In the Additional Duties of Excise (Goods of Special Importance) Act, 1957, with effect from the 1st day of January, 2007, the First Schedule shall be amended in the manner specified in the Eighth Schedule.

In the Oil Industry (Development) Act, 1974, in the Schedule, against Sl. No. 1, relating to crude oil, for the entry in column 3, the entry Rupees two thousand five hundred per tonne shall be substituted.

In the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978, with effect from the 1st day of January, 2007, the Schedule shall be amended in the manner specified in the Ninth Schedule.

In the Finance Act, 2001, with effect from the 1st day of January, 2007, the Seventh Schedule shall be amended in the manner specified in the Tenth Schedule.

In the Finance (No. 2) Act, 2004, with effect from the 1st day of June, 2006,

(a) in Section 97, in clause (5), in sub-clause (i), for the words fifty per cent , the words sixty-five per cent shall be substituted;

(b) in Section 98, in the Table,

(i) against Sl. No. 1, under column (3) relating to rate, for the figures and words 0.1 per cent , the figures and words 0.125 per cent shall be substituted;

(ii) against Sl. No. 2, under column (3) relating to rate, for the figures and words 0.1 per cent , the figures and words 0.125 per cent shall be substituted;

(iii) against Sl. No. 3, under column (3) relating to rate, for the figures and words 0.02 per cent , the figures and words 0.025 per cent shall be substituted;

(iv) against SI. No. 4, under column (3) relating to rate, for the figures and words 0.0133 per cent , the figures and words 0.017 per cent shall be substituted;

(v) against SI. No. 5, under column (3) relating to rate, for the figures and words 0.2 per cent , the figures and words 0.25 per cent shall be substituted.

(See Section 2)

INCOME TAX

(I) In the case of every individual other than the individual referred to in Items (II) and (III) of this paragraph or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income Tax Act, not being a case to which any other paragraph of this Part applies,

(II) In the case of every individual, being a woman resident in India, and below the age of sixty-five years at any time during the previous year,

(III) In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year,

The amount of income tax computed in accordance with the preceding provisions of this paragraph, or in Section 111-A or Section 112, shall,

(i) in the case of every individual or Hindu undivided family or association of persons or body of individuals having a total income exceeding ten lakh rupees, be reduced by the amount of rebate of income tax calculated under Chapter VIII-A, and the income tax as so reduced, be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent of such income tax;

(ii) in the case of every person, other than those mentioned in item (i), be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent of such income tax:

Provided that in case of persons mentioned in item (i) above having a total income exceeding ten lakh rupees, the total amount payable as income tax and surcharge on such income shall not exceed the total amount payable as income tax on a total income of ten lakh rupees by more than the amount of income that exceeds ten lakh rupees.

In the case of every co-operative society,

In the case of every firm,

The amount of income tax computed at the rate hereinbefore specified, or in Section 111-A or Section 112, shall, in the case of every firm, be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent of such income tax.

In the case of every local authority,

In the case of a company,

The amount of income tax computed in accordance with the preceding provisions of this paragraph, or in Section 111-A or Section 112, shall, in the case of every company, be increased by a surcharge for purposes of the Union calculated,

(i) in the case of every domestic company at the rate of ten per cent of such income tax;

(ii) in the case of every company other than a domestic company at the rate of two and one-half per cent.

RATES FOR DEDUCTION OF TAX AT SOURCE IN CERTAIN CASES

In every case in which under the provisions of Sections 193, 194, 194-A, 194-B, 194-BB, 194-D and 195 of the Income Tax Act, tax is to be deducted at the rates in force, deduction shall be made from the income subject to the deduction at the following rates:

Explanation. For the purpose of Item 1(b)(i) of this Part, investment income and non-resident Indian shall have the meanings assigned to them in Chapter XII-A of the Income Tax Act.

The amount of income tax deducted in accordance with the provisions of

(A) Item 1, of this Part, shall be increased by a surcharge, for purposes of the Union, calculated,

(i) in the case of every individual, Hindu undivided family, association of persons and body of individuals, whether incorporated or not, at the rate of ten per cent of such tax where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds ten lakh rupees;

(ii) in the case of every firm and artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income Tax Act, at the rate of ten per cent of such tax;

(B) Item 2 of this Part, shall be increased by a surcharge, for purposes of the Union, calculated,

(i) in the case of every domestic company at the rate of ten per cent of such income tax;

(ii) in the case of every company other than a domestic company at the rate of two and one-half per cent of such income tax.

RATES FOR CHARGING INCOME TAX IN CERTAIN CASES, DEDUCTING INCOME TAX FROM INCOME CHARGEABLE UNDER THE HEAD SALARIES AND COMPUTING ADVANCE TAX

In cases in which income tax has to be charged under sub-section (4) of Section 172 of the Income Tax Act or sub-section (2) of Section 174 or Section 174-A or Section 175 or sub-section (2) of Section 176 of the said Act or deducted from, or paid on, from income chargeable under the head Salaries under Section 192 of the said Act or in which the advance tax payable under Chapter XVII-C of the said Act has to be computed at the rate or rates in force, such income tax or, as the case may be, advance tax [not being advance tax in respect of any income chargeable to tax under Chapter XII or Chapter XII-A or fringe benefits chargeable to tax under Chapter XII-H or income chargeable to tax under Section 115-JB or sub-section (1-A) of Section 161 or Section 164 or Section 164-A or Section 167-B of the Income Tax Act at the rates as specified in that chapter or section or surcharge on such advance tax in respect of any income chargeable to tax under Section 115-A or Section 115-AB or Section 115-AC or Section 115-ACA or Section 115-AD or Section 115-B or Section 115-BB or Section 115-BBA or Section 115-BBC or Section 115-E or Section 115-JB or fringe benefits chargeable to tax under Section 115-WA] shall be charged, deducted or computed at the following rate or rates:

(I) In the case of every individual other than the individual referred to in Items (II) and (III) of this paragraph or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income Tax Act, not being a case to which any other paragraph of this Part applies,

(II) In the case of every individual, being a woman resident in India, and below the age of sixty-five years at any time during the previous year,

(III) In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year,

The amount of income tax computed in accordance with the preceding provisions of this Paragraph or in Section 111-A or Section 112 shall,

(i) in the case of every individual or Hindu undivided family or association of persons or body of individuals having a total income exceeding ten lakh rupees, be reduced by the amount of rebate of income tax calculated under Chapter VIII-A, and the income tax as so reduced, be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent of such income tax;

(ii) in the case of every person, other than those mentioned in Item (i), be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent of such income tax:

Provided that in case of persons mentioned in Item (i) above having a total income exceeding ten lakh rupees, the total amount payable as income tax and surcharge on such income shall not exceed the total amount payable as income tax on a total income of ten lakh rupees by more than the amount of income that exceeds ten lakh rupees.

In the case of every co-operative society,

In the case of every firm,

The amount of income tax computed at the rate hereinbefore specified, or in Section 111-A or Section 112, shall, in the case of every firm, be increased by a surcharge for purposes of the Union calculated at the rate of ten per cent of such income tax.

In the case of every local authority,

In the case of a company,

The amount of income tax computed in accordance with the preceding provisions of this Paragraph, or in Section 111-A or Section 112, shall, in the case of every company, be increased by a surcharge for purposes of the Union calculated,

(i) in the case of every domestic company at the rate of ten per cent of such income tax;

(ii) in the case of every company other than a domestic company at the rate of two and one-half per cent.

[See Section 2(12)(c)]

RULES FOR COMPUTATION OF NET AGRICULTURAL INCOME

Rule 1. Agricultural income of the nature referred to in sub-clause (a) of clause (1-A) of Section 2 of the Income Tax Act shall be computed as if it were income chargeable to income tax under that Act under the head Income from other sources and the provisions of Sections 57 to 59 of that Act shall, so far as may be, apply accordingly:

Provided that sub-section (2) of Section 58 shall apply subject to the modification that the reference to Section 40-A therein shall be construed as not including a reference to sub-sections (3) and (4) of Section 40-A.

Rule 2. Agricultural income of the nature referred to in sub-clause (b) or sub-clause (c) of clause (1-A) of Section 2 of the Income Tax Act [other than income derived from any building required as a dwelling-house by the receiver of the rent or revenue of the cultivator or the receiver of rent-in-kind referred to in the said sub-clause (c)] shall be computed as if it were income chargeable to income tax under that Act under the head Profits and gains of business or profession and the provisions of Sections 30, 31, 32, 36, 37, 38, 40, 40-A [other than sub-sections (3) and (4) thereof], 41, 43, 43-A, 43-B and 43-C of the Income Tax Act shall, so far as may be, apply accordingly.

Rule 3. Agricultural income of the nature referred to in sub-clause (c) of clause (1-A) of Section 2 of the Income Tax Act, being income derived from any building required as a dwelling-house by the receiver of the rent or revenue or the cultivator or the receiver of rent-in-kind referred to in the said sub-clause (c) shall be computed as if it were income chargeable to income tax under that Act under the head Income from house property and the provisions of Sections 23 to 27 of that Act shall, so far as may be, apply accordingly.

Rule 4. Notwithstanding anything contained in any other provisions of these Rules, in a case

(a) where the assessee derives income from sale of tea grown and manufactured by him in India, such income shall be computed in accordance with Rule 8 of the Income Tax Rules, 1962, and sixty per cent of such income shall be regarded as the agricultural income of the assessee;

(b) where the assessee derives income from sale of centrifuged latex or cenex or latex based crepes (such as pale latex crepe) or brown crepes (such as estate brown crepe, re-milled crepe, smoked blanket crepe or flat bark crepe) of technically specified block rubbers manufactured or processed by him from rubber plants grown by him in India, such income shall be computed in accordance with Rule 7-A of the Income Tax Rules, 1962, and sixty-five per cent of such income shall be regarded as the agricultural income of the assessee;

(c) where the assessee derives income from sale of coffee grown and manufactured by him in India, such income shall be computed in accordance with Rule 7-B of the Income Tax Rules, 1962, and sixty per cent or seventy-five per cent, as the case may be, of such income shall be regarded as the agricultural income of the assessee.

Rule 5. Where the assessee is a member of an association of persons or a body of individuals (other than a Hindu undivided family, a company or a firm) which in the previous year has either no income chargeable to tax under the Income Tax Act or has total income not exceeding the maximum amount not chargeable to tax in the case of an association of persons or a body of individuals (other than a Hindu undivided family, a company or a firm) but has any agricultural income then, the agricultural income or loss of the association or body shall be computed in accordance with these Rules and the share of the assessee in the agricultural income or loss so computed shall be regarded as the agricultural income or loss of the assessee.

Rule 6. Where the result of the computation for the previous year in respect of any source of agricultural income is a loss, such loss shall be set off against the income of the assessee, if any, for that previous year from any other source of agricultural income:

Provided that where the assessee is a member of an association of persons or a body of individuals and the share of the assessee in the agricultural income of the association or body, as the case may be, is a loss, such loss shall not be set off against any income of the assessee from any other source of agricultural income.

Rule 7. Any sum payable by the assessee on account of any tax levied by the State Government on the agricultural income shall be deducted in computing the agricultural income.

Rule 8. (1) Where the assessee has, in the previous year relevant to the assessment year commencing on the 1st day of April, 2006, any agricultural income and the net result of the computation of the agricultural income of the assessee for any one or more of the previous years relevant to the assessment years commencing on the 1st day of April, 1998 or the 1st day of April, 1999 or the 1st day of April, 2000 or the 1st day of April, 2001 or the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005, is a loss, then, for the purposes of sub-section (2) of Section 2 of this Act,

(i) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 1998, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 1999 or the 1st day of April, 2000 or the 1st day of April, 2001 or the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005,

(ii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 1999, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2000 or the 1st day of April, 2001 or the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005,

(iii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2000, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2001 or the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005,

(iv) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2001, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005,

(v) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2002, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005,

(vi) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2003, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2004 or the 1st day of April, 2005,

(vii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2004, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2005,

(viii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2005,

shall be set off against the agricultural income of the assessee for the previous year relevant to the assessment year commencing on the 1st day of April, 2006.

(2) Where the assessee has, in the previous year relevant to the assessment year commencing on the 1st day of April, 2007, or, if by virtue of any provision of the Income Tax Act, income tax is to be charged in respect of the income of a period other than the previous year, in such other period, any agricultural income and the net result of the computation of the agricultural income of the assessee for any one or more of the previous years relevant to the assessment years commencing on the 1st day of April, 1999 or the 1st day of April, 2000 or the 1st day of April, 2001 or the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005 or the 1st day of April, 2006, is a loss, then, for the purposes of sub-section (10) of Section 2 of this Act,

(i) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 1999, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2000 or the 1st day of April, 2001 or the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005 or the 1st day of April, 2006,

(ii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2000, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2001 or the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005 or the 1st day of April, 2006,

(iii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2001, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2002 or the 1st day of April, 2003 or the 1st day of April, 2004 or the 1st day of April, 2005 or the 1st day of April, 2006,

(iv) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2002, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2003 or the 1st day of April, 2004, or the 1st day of April, 2005 or the 1st day of April, 2006,

(v) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2003, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2004 or the 1st day of April, 2005 or the 1st day of April, 2006,

(vi) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2004, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2005 or the 1st day of April, 2006,

(vii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2005, to the extent, if any, such loss has not been set off against the agricultural income for the previous year relevant to the assessment year commencing on the 1st day of April, 2006,

(viii) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 2006,

shall be set off against the agricultural income of the assessee for the previous year relevant to the assessment year commencing on the 1st day of April, 2007.

(3) Where any person deriving any agricultural income from any source has been succeeded in such capacity by another person, otherwise than by inheritance, nothing in sub-rule (1) or sub-rule (2) shall entitle any person, other than the person incurring the loss, to have it set off under sub-rule (1) or, as the case may be, sub-rule (2).

(4) Notwithstanding anything contained in this Rule, no loss which has not been determined by the Assessing Officer under the provisions of these Rules or the Rules contained in Part IV of the First Schedule to Finance (No. 2) Act, 1998 (21 of 1998), or of the First Schedule to the Finance Act, 1999 (27 of 1999), or of the First Schedule to the Finance Act, 2000 (10 of 2000), or of the First Schedule to the Finance Act, 2001 (14 of 2001), or of the First Schedule to the Finance Act, 2002 (20 of 2002), or of the First Schedule to the Finance Act, 2003 (32 of 2003), or of the First Schedule to the Finance (No. 2) Act, 2004 (23 of 2004) or of the First Schedule to the Finance Act, 2005 (18 of 2005) shall be set off under sub-rule (1) or, as the case may be, sub-rule (2).

Rule 9. Where the net result of the computation made in accordance with these Rules is a loss, the loss so computed shall be ignored and the net agricultural income shall be deemed to be nil.

Rule 10. The provisions of the Income Tax Act relating to procedure for assessment (including the provisions of Section 288-A relating to rounding off of income) shall, with the necessary modifications, apply in relation to the computation of the net agricultural income of the assessee as they apply in relation to the assessment of the total income.

Rule 11. For the purposes of computing the net agricultural income of the assessee, the Assessing Officer shall have the same powers as he has under the Income Tax Act for the purposes of assessment of the total income.

(See Section 60)

[See Section 63(a)]

In the First Schedule to the Customs Tariff Act,

(1) in Chapter 4, in tariff item 0409 00 00, for the entry in column (4), the entry 60% shall be substituted;

(2)in Chapter 25,

(i) for the entry in column (4) occurring against all the tariff items (except all the tariff items of headings 2504 and 2510), the entry 12.5% shall be substituted;

(ii) for the entries in column (4) and column (5) occurring against all the tariff items of heading 2504, the entry 12.5% and 12.5% shall respectively be substituted;

(3) in Chapter 26, in tariff items 2620 11 00, 2620 19 00, 2620 30 10 and 2620 30 90, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(4) In Chapter 27

(i) for the entry in column (4) occurring against all the tariff items of heading 2701 (except tariff item 2701 12 00), the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of headings 2702, 2703 and 2704, the entry 12.5% shall be substituted;

(iii) in tariff item 2705 00 00, for the entry in column (4), the entry 12.5% shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of headings 2706, 2707 and 2708, the entry 12.5% shall be substituted;

(v) in tariff item 2709 00 00, for the entry in column (4), the entry 5% shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of headings 2710, 2712, 2713 and 2715, the entry 10% shall be substituted;

(5) in Chapter 28,

(i) for the entry in column (4) occurring against all the tariff items (except all the tariff items of headings 2801, 2802, 2803, 2804, 2805 and 2814), the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of headings 2801, 2802, 2803, 2804 and 2805, the entry 10% shall be substituted;

(6) in Chapter 29,

(i) for the entry in column (4) occurring against all the tariff items (except tariff items 2902 43 00, 2905 43 00, 2905 44 00, 2917 37 00, 2933 71 00, 2936 10 00, 2936 21 00, 2936 22 10, 2936 22 90, 2936 23 10, 2936 23 90, 2936 24 00, 2936 25 00, 2936 26 10, 2936 26 90, 2936 27 00, 2936 28 00, 2936 29 10, 2936 29 20, 2936 29 30, 2936 29 40, 2936 29 50, 2936 29 90, 2936 90 00, 2937 11 00, 2937 12 00, 2937 19 00, 2937 21 00, 2937 22 00, 2937 23 00, 2937 29 00, 2937 31 00, 2937 39 00, 2937 40 00, 2937 50 00, 2937 90 00, 2939 41 10, 2939 41 20, 2939 41 90, 2939 42 00, 2939 43 00, 2939 49 00, 2939 51 00, 2939 59 00, 2941 10 10, 2941 10 20, 2941 10 30, 2941 10 40, 2941 10 50, 2941 10 90, 2941 20 10, 2941 20 90, 2941 30 10, 2941 30 20, 2941 30 90, 2941 40 00, 2941 50 00, 2941 90 11, 2941 90 12, 2941 90 13, 2941 90 14, 2941 90 19, 2941 90 20, 2941 90 30, 2941 90 40, 2941 90 50, 2941 90 60 and 2941 90 90), the entry 12.5% shall be substituted;

(ii) in tariff items 2917 37 00 and 2933 71 00, for the entries in column (4) and column (5) occurring against each of them, the entries 12.5% and 12.5% shall respectively be substituted;

(iii) for the entries in column (4) and column (5) occurring against all the tariff items of headings 2936 and 2937, the entries 12.5% and 12.5% shall respectively be substituted;

(iv) in tariff items 2939 41 10, 2939 41 20, 2939 41 90, 2939 42 00, 2939 43 00, 2939 49 00, 2939 51 00 and 2939 59 00, for the entries in column (4) and column (5) occurring against each of them, the entries 12.5% and 12.5% shall respectively be substituted;

(v) for the entries in column (4) and column (5) occurring against all the tariff items of heading 2941, the entries 12.5% and 12.5% shall respectively be substituted;

(7) in Chapter 30,

(i) for the entries in column (4) and column (5) occurring against all the tariff items (except all the tariff items of headings 3005 and 3006), the entries 12.5% and 12.5% shall respectively be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of heading 3005, the entry 12.5% shall be substituted;

(iii) in tariff items 3006 10 10, 3006 10 20, 3006 20 00, 3006 30 00, 3006 40 00, 3006 50 00, 3006 70 00 and 3006 80 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(8) in Chapter 31, for the entry in column (4) occurring against all the tariff items (except tariff items 3102 21 00, 3102 50 00, 3104 30 00, 3105 20 00, 3105 30 00, 3105 40 00, 3105 51 00, 3105 59 00, 3105 60 00, 3105 90 10 and 3105 90 90), the entry 12.5% shall be substituted;

(9) in Chapter 32, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(10) in Chapter 33,

(i) for the entry in column (4) occurring against all the tariff items of sub-heading 3302 90, the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of headings 3303, 3304, 3305, 3306 and 3307, the entry 12.5% , shall be substituted;

(11) In Chapter 34,

(i) for the entry in column (4) occurring against all the tariff items (except tariff items 3402 11 10, 3402 11 90, 3402 12 00, 3402 13 00 and 3402 19 00), the entry 12.5% , shall be substituted;

(ii) in tariff items 3402 11 10, 3402 11 90, 3402 12 00, 3402 13 00 and 3402 19 00, for the entries in column (4) and column (5) occurring against each of them, the entries 12.5% and 12.5% shall respectively be substituted;

(12) in Chapter 35, for the entry in column (4) occurring against all the tariff items of headings 3506 and 3507, the entry 12.5% , shall be substituted;

(13) in Chapter 36, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(14) in Chapter 37, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(15) In Chapter 38,

(i) for the entry in column (4) occurring against all the tariff items (except tariff items 3801 10 00, 3802 10 00, 3809 10 00, 3812 10 00, 3815 11 00, 3815 12 10, 3815 12 90, 3818 00 10, 3818 00 90, 3823 11 11, 3823 11 12, 3823 11 19, 3823 11 90, 3823 12 00, 3823 13 00, 3823 19 00, 3823 70 10, 3823 70 20, 3823 70 30, 3823 70 40, 3823 70 90, 3824 60 10 and 3824 60 90), the entry 12.5% shall be substituted;

(ii) in tariff items 3801 10 00, 3802 10 00, 3812 10 00, 3815 11 00, 3815 12 10 and 3815 12 90, for the entries in column (4) and column (5) occurring against each of them, the entries 12.5% and 12.5% shall respectively be substituted;

(16) in Chapter 39, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(17) in Chapter 40, for the entry in column (4) occurring against all the tariff items (except tariff items 4001 10 10, 4001 10 20, 4001 21 00, 4001 22 00, 4001 29 10, 4001 29 20, 4001 29 30, 4001 29 40, 4001 29 90 and 4011 30 00), the entry 12.5% shall be substituted;

(18) in Chapter 41, for the entry in column (4) occurring against all the tariff items (except all the tariff items of headings 4101, 4102 and 4103), the entry 12.5% shall be substituted;

(19) in Chapter 42, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(20) in Chapter 43,

(i) for the entry in column (4) occurring against all the tariff items of heading 4302 (except tariff item 4302 13 00), the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of headings 4303 and 4304, the entry 12.5% shall be substituted;

(21) in Chapter 44, for the entry in column (4) occurring against all the tariff items (except all the tariff items of headings 4401, 4402 and 4403), the entry 12.5% shall be substituted;

(22) in Chapter 45, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(23) in Chapter 46, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(24) in Chapter 47, for the entry in column (4) occurring against all the tariff items of heading 4707, the entry 12.5% shall be substituted;

(25) in Chapter 48, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(26) in Chapter 49, for the entry in column (4) occurring against all the tariff items (except tariff items 4902 10 10, 4902 10 20, 4902 90 10, 4902 90 20, 4904 00 00, 4905 10 00, 4905 91 00, 4905 99 10 and 4905 99 90), the entry 12.5% shall be substituted;

(27) in Chapter 50, for the entry in column (4) occurring against all the tariff items of headings 5004, 5005, 5006 and 5007, the entry 12.5% shall be substituted;

(28) in Chapter 51,

(i) for the entry in column (4) occurring against all the tariff items of heading 5104, the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of heading 5105 (except tariff item 5105 29 10), the entry 12.5% shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of headings 5106, 5107, 5108, 5109 and 5110, the entry 12.5% shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of sub-heading 5111 11, the entry 12.5% or Rs 135 per sq metre, whichever is higher shall be substituted;

(v) for the entry in column (4) occurring against all the tariff items of sub-heading 5111 19, the entry 12.5% or Rs 150 per sq metre, whichever is higher shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of sub-heading 5111 20, the entry 12.5% or Rs 80 per sq metre, whichever is higher shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of sub-heading 5111 30, the entry 12.5% or Rs 75 per sq metre, whichever is higher shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of sub-heading 5111 90, the entry 12.5% or Rs 90 per sq metre, whichever is higher shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of sub-heading 5112 11, the entry 12.5% or Rs 125 per sq metre, whichever is higher shall be substituted;

(x) for the entry in column (4) occurring against all the tariff items of sub-heading 5112 19, the entry 12.5% or Rs 155 per sq metre, whichever is higher shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of sub-heading 5112 20, the entry 12.5% or Rs 85 per sq metre, whichever is higher shall be substituted;

(xii) for the entry in column (4) occurring against all the tariff items of sub-heading 5112 30, the entry 12.5% or Rs 110 per sq metre, whichever is higher shall be substituted;

(xiii) for the entry in column (4) occurring against all the tariff items of sub-heading 5112 90, the entry 12.5% or Rs 135 per sq metre, whichever is higher shall be substituted;

(xiv) for the entry in column (4) occurring against all the tariff items of heading 5113, the entry 12.5% or Rs 60 per sq metre, whichever is higher shall be substituted;

(29) in Chapter 52,

(i) for the entry in column (4) occurring against all the tariff items of headings 5204, 5205, 5206 and 5207, the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of sub-headings 5208 11, 5208 12, 5208 13, 5208 19, 5208 21, 5208 22, 5208 23, 5208 29, 5208 31, 5208 32 and 5208 33, the entry 12.5% shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 39, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 41, the entry 12.5% or Rs 9 per sq metre, whichever is higher shall be substituted;

(v) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 42, the entry 12.5% or Rs 37 per sq metre, whichever is higher shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 43, the entry 12.5% shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 49, the entry 12.5% or Rs 200 per kg, whichever is higher shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 51, the entry 12.5% or Rs 27 per sq metre, whichever is higher shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 52, the entry 12.5% or Rs 23 per sq metre, whichever is higher shall be substituted;

(x) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 53, the entry 12.5% or Rs 35 per sq metre, whichever is higher shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of sub-heading 5208 59, the entry 12.5% or Rs 50 per sq metre, whichever is higher shall be substituted;

(xii) for the entry in column (4) occurring against all the tariff items of sub-headings 5209 11 and 5209 12, the entry 12.5% shall be substituted;

(xiii) in tariff item 5209 19 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xiv) for the entry in column (4) occurring against all the tariff items of sub-headings 5209 21, 5209 22 and 5209 29, the entry 12.5% shall be substituted;

(xv) for the entry in column (4) occurring against all the tariff items of sub-headings 5209 31, 5209 32 and 5209 39, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5209 41, the entry 12.5% or Rs 32 per sq metre, whichever is higher shall be substituted;

(xvii) in tariff item 5209 42 00, for the entry in column (4), the entry 12.5% or Rs 25 per sq metre, whichever is higher shall be substituted;

(xviii) for the entry in column (4) occurring against all the tariff items of sub-heading 5209 43, the entry 12.5% or Rs 30 per sq metre, whichever is higher shall be substituted;

(xix) for the entry in column (4) occurring against all the tariff items of sub-heading 5209 49, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xx) for the entry in column (4) occurring against all the tariff items of sub-headings 5209 51 and 5209 52, the entry 12.5% or Rs 30 per sq metre, whichever is higher shall be substituted;

(xxi) for the entry in column (4) occurring against all the tariff items of sub-heading 5209 59, the entry 12.5% or Rs 38 per sq metre, whichever is higher shall be substituted;

(xxii) for the entry in column (4) occurring against all the tariff items of sub-headings 5210 11 and 5210 12, the entry 12.5% shall be substituted;

(xxiii) in tariff item 5210 19 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxiv) for the entry in column (4) occurring against all the tariff items of sub-headings 5210 21, 5210 22, 5210 29, 5210 31 and 5210 32, the entry 12.5% shall be substituted;

(xxv) for the entry in column (4) occurring against all the tariff items of sub-heading 5210 39, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xxvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5210 41, the entry 12.5% or Rs 15 per sq metre, whichever is higher shall be substituted;

(xxvii) for the entry in column (4) occurring against all the tariff items of sub-heading 5210 42, the entry 12.5% or Rs 25 per sq metre, whichever is higher shall be substituted;

(xxviii) for the entry in column (4) occurring against all the tariff items of sub-heading 5210 49, the entry 12.5% or Rs 185 per kg, whichever is higher shall be substituted;

(xxix) for the entry in column (4) occurring against all the tariff items of sub-headings 5210 51, 5210 52 and 5210 59, the entry 12.5% or Rs 15 per sq metre, whichever is higher shall be substituted;

(xxx) for the entry in column (4) occurring against all the tariff items of sub-headings 5211 11 and 5211 12, the entry 12.5% shall be substituted;

(xxxi) in tariff item 5211 19 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxxii) for the entry in column (4) occurring against all the tariff items of sub-headings 5211 21, 5211 22 and 5211 29, the entry 12.5% shall be substituted;

(xxxiii) for the entry in column (4) occurring against all the tariff items of sub-headings 5211 31, 5211 32 and 5211 39, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xxxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 5211 41, the entry 12.5% or Rs 44 per sq metre, whichever is higher shall be substituted;

(xxxv) in tariff item 5211 42 00, for the entry in column (4), the entry 12.5% or Rs 18 per sq metre, whichever is higher shall be substituted;

(xxxvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5211 43, the entry 12.5% or Rs 40 per sq metre, whichever is higher shall be substituted;

(xxxvii) for the entry in column (4) occurring against all the tariff items of sub-heading 5211 49, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xxxviii) for the entry in column (4) occurring against all the tariff items of sub-headings 5211 51, 5211 52 and 5211 59, the entry 12.5% or Rs 18 per sq metre, whichever is higher shall be substituted;

(xxxix) in tariff items 5212 11 00, 5212 12 00, 5212 13 00 and 5212 14 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(xl) in tariff item 5212 15 00, for the entry in column (4), the entry 12.5% or Rs 165 per kg, whichever is higher shall be substituted;

(xli) in tariff items 5212 21 00, 5212 22 00 and 5212 23 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(xlii) in tariff item 5212 24 00, for the entry in column (4), the entry 12.5% or Rs 20 per sq metre, whichever is higher shall be substituted;

(xliii) in tariff item 5212 25 00, for the entry in column (4), the entry 12.5% or Rs 165 per kg, whichever is higher shall be substituted;

(30) in Chapter 53, for the entry in column (4) occurring against all the tariff items (except all the tariff items of headings 5301 and 5302), the entry 12.5% shall be substituted;

(31) in Chapter 54,

(i) for the entry in column (4) occurring against all the tariff items of headings 5401, 5402, 5403 and 5404, the entry 12.5% shall be substituted;

(ii) in tariff item 5405 00 00, for the entry in column (4), the entry 12.5% shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of heading 5406, the entry 12.5% shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 10, the entry 12.5% or Rs 115 per kg, whichever is higher shall be substituted;

(v) for the entry in column (4) occurring against all the tariff items of sub-headings 5407 20 and 5407 30, the entry 12.5% shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 41, the entry 12.5% or Rs 30 per sq metre, whichever is higher shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 42, the entry 12.5% or Rs 60 per sq metre, whichever is higher shall be substituted;

(viii) in tariff item 5407 43 00, for the entry in column (4), the entry 12.5% or Rs 67 per sq metre, whichever is higher shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 44, the entry 12.5% or Rs 58 per sq metre, whichever is higher shall be substituted;

(x) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 51, the entry 12.5% or Rs 11 per sq metre, whichever is higher shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 52, the entry 12.5% or Rs 38 per sq metre, whichever is higher shall be substituted;

(xii) in tariff item 5407 53 00, for the entry in column (4), the entry 12.5% or Rs 50 per sq metre, whichever is higher shall be substituted;

(xiii) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 54, the entry 12.5% or Rs 20 per sq metre, whichever is higher shall be substituted;

(xiv) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 61, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xv) in tariff item 5407 69 00, for the entry in column (4), the entry 12.5% or Rs 60 per sq metre, whichever is higher shall be substituted;

(xvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 71, the entry 12.5% or Rs 10 per sq metre, whichever is higher shall be substituted;

(xvii) in tariff item 5407 72 00, for the entry in column (4), the entry 12.5% or Rs 24 per sq metre, whichever is higher shall be substituted;

(xviii) in tariff item 5407 73 00, for the entry in column (4), the entry 12.5% or Rs 60 per sq metre, whichever is higher shall be substituted;

(xix) in tariff item 5407 74 00, for the entry in column (4), the entry 12.5% or Rs 38 per sq metre, whichever is higher shall be substituted;

(xx) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 81, the entry 12.5% or Rs 10 per sq metre, whichever is higher shall be substituted;

(xxi) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 82, the entry 12.5% or Rs 42 per sq metre, whichever is higher shall be substituted;

(xxii) in tariff item 5407 83 00, for the entry in column (4), the entry 12.5% or Rs 67 per sq metre, whichever is higher shall be substituted;

(xxiii) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 84, the entry 12.5% or Rs 38 per sq metre, whichever is higher shall be substituted;

(xxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 5407 91, the entry 12.5% or Rs 15 per sq metre, whichever is higher shall be substituted;

(xxv) in tariff item 5407 92 00, for the entry in column (4), the entry 12.5% or Rs 67 per sq metre, whichever is higher shall be substituted;

(xxvi) in tariff item 5407 93 00, for the entry in column (4), the entry 12.5% or Rs 45 per sq metre, whichever is higher shall be substituted;

(xxvii) in tariff item 5407 94 00, for the entry in column (4), the entry 12.5% or Rs 67 per sq metre, whichever is higher shall be substituted;

(xxviii) in tariff item 5408 10 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxix) for the entry in column (4) occurring against all the tariff items of sub-heading 5408 21, the entry 12.5% shall be substituted;

(xxx) for the entry in column (4) occurring against all the tariff items of sub-heading 5408 22, the entry 12.5% or Rs 45 per sq metre, whichever is higher shall be substituted;

(xxxi) in tariff item 5408 23 00, for the entry in column (4), the entry 12.5% or Rs 47 per sq metre, whichever is higher shall be substituted;

(xxxii) for the entry in column (4) occurring against all the tariff items of sub-heading 5408 24, the entry 12.5% or Rs 87 per sq metre, whichever is higher shall be substituted;

(xxxiii) for the entry in column (4) occurring against all the tariff items of sub-heading 5408 31, the entry 12.5% or Rs 25 per sq metre, whichever is higher shall be substituted;

(xxxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 5408 32, the entry 12.5% or Rs 44 per sq metre, whichever is higher shall be substituted;

(xxxv) in tariff item 5408 33 00, for the entry in column (4), the entry 12.5% or Rs 10 per sq metre, whichever is higher shall be substituted;

(xxxvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5408 34, the entry 12.5% or Rs 11 per sq metre, whichever is higher shall be substituted;

(32) in Chapter 55,

(i) for the entry in column (4) occurring against all the tariff items of headings 5501, 5502, 5503, 5504, 5505, 5506, 5507, 5508, 5509 and 5510, the entry 12.5% shall be substituted;

(ii) in tariff items 5511 10 00 and 5511 20 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 31 per kg, whichever is higher shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of sub-heading 5511 30, the entry 12.5% or Rs 30 per kg, whichever is higher shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of sub-heading 5512 11, the entry 12.5% shall be substituted;

(v) for the entry in column (4) occurring against all the tariff items of sub-heading 5512 19, the entry 12.5% or Rs 42 per sq metre, whichever is higher shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of sub-heading 5512 21, the entry 12.5% shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of sub-heading 5512 29, the entry 12.5% or Rs 47 per sq metre, whichever is higher shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of sub-heading 5512 91, the entry 12.5% shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of sub-heading 5512 99, the entry 12.5% or Rs 65 per kg, whichever is higher shall be substituted;

(x) for the entry in column (4) occurring against all the tariff items of sub-headings 5513 11, 5513 12, 5513 13 and 5513 19, the entry 12.5% shall be substituted;

(xi) in tariff items 5513 21 00 and 5513 22 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xii) in tariff item 5513 23 00, for the entry in column (4), the entry 12.5% or Rs 125 per kg or Rs 25 per sq metre, whichever is highest shall be substituted;

(xiii) in tariff item 5513 29 00, for the entry in column (4), the entry 12.5% or Rs 185 per kg, whichever is higher shall be substituted;

(xiv) in tariff item 5513 31 00, for the entry in column (4), the entry 12.5% or Rs 21 per sq metre, whichever is higher shall be substituted;

(xv) in tariff item 5513 32 00, for the entry in column (4), the entry 12.5% or Rs 170 per kg, whichever is higher shall be substituted;

(xvi) in tariff item 5513 33 00, for the entry in column (4), the entry 12.5% or Rs 22 per sq metre, whichever is higher shall be substituted;

(xvii) in tariff item 5513 39 00, for the entry in column (4), the entry 12.5% or Rs 125 per kg or Rs 30 per sq metre, whichever is highest shall be substituted;

(xviii) in tariff item 5513 41 00, for the entry in column (4), the entry 12.5% or Rs 25 per sq metre, whichever is higher shall be substituted;

(xix) in tariff item 5513 42 00, for the entry in column (4), the entry 12.5% or Rs 12 per sq metre, whichever is higher shall be substituted;

(xx) in tariff item 5513 43 00, for the entry in column (4), the entry 12.5% or Rs 20 per sq metre, whichever is higher shall be substituted;

(xxi) in tariff item 5513 49 00, for the entry in column (4), the entry 12.5% or Rs 185 per kg, whichever is higher shall be substituted;

(xxii) for the entry in column (4) occurring against all the tariff items of sub-headings 5514 11, 5514 12, 5514 13 and 5514 19, the entry 12.5% shall be substituted;

(xxiii) in tariff item 5514 21 00, for the entry in column (4), the entry 12.5% or Rs 100 per kg or Rs 30 per sq metre, whichever is highest shall be substituted;

(xxiv) in tariff item 5514 22 00, for the entry in column (4), the entry 12.5% or Rs 140 per kg, whichever is higher shall be substituted;

(xxv) in tariff item 5514 23 00, for the entry in column (4), the entry 12.5% or Rs 160 per kg, whichever is higher shall be substituted;

(xxvi) in tariff item 5514 29 00, for the entry in column (4), the entry 12.5% or Rs 170 per kg, whichever is higher shall be substituted;

(xxvii) in tariff item 5514 31 00, for the entry in column (4), the entry 12.5% or Rs 64 per sq metre, whichever is higher shall be substituted;

(xxviii) in tariff item 5514 32 00, for the entry in column (4), the entry 12.5% or Rs 43 per sq metre, whichever is higher shall be substituted;

(xxix) in tariff item 5514 33 00, for the entry in column (4), the entry 12.5% or Rs 180 per kg, whichever is higher shall be substituted;

(xxx) in tariff item 5514 39 00, for the entry in column (4), the entry 12.5% or Rs 31 per sq metre, whichever is higher shall be substituted;

(xxxi) in tariff item 5514 41 00, for the entry in column (4), the entry 12.5% or Rs 26 per sq metre, whichever is higher shall be substituted;

(xxxii) in tariff item 5514 42 00, for the entry in column (4), the entry 12.5% or Rs 140 per kg, whichever is higher shall be substituted;

(xxxiii) in tariff item 5514 43 00, for the entry in column (4), the entry 12.5% or Rs 31 per sq metre, whichever is higher shall be substituted;

(xxxiv) in tariff item 5514 49 00, for the entry in column (4), the entry 12.5% or Rs 160 per kg, whichever is higher shall be substituted;

(xxxv) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 11, the entry 12.5% or Rs 40 per sq metre, whichever is higher shall be substituted;

(xxxvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 12, the entry 12.5% or Rs 95 per kg, whichever is higher shall be substituted;

(xxxvii) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 13, the entry 12.5% or Rs 75 per sq metre, whichever is higher shall be substituted;

(xxxviii) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 19, the entry 12.5% or Rs 45 per sq metre, whichever is higher shall be substituted;

(xxxix) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 21, the entry 12.5% or Rs 79 per sq metre, whichever is higher shall be substituted;

(xl) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 22, the entry 12.5% or Rs 140 per kg, whichever is higher shall be substituted;

(xli) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 29, the entry 12.5% or Rs 30 per sq metre, whichever is higher shall be substituted;

(xlii) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 91, the entry 12.5% or Rs 57 per sq metre, whichever is higher shall be substituted;

(xliii) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 92, the entry 12.5% or Rs 55 per sq metre, whichever is higher shall be substituted;

(xliv) for the entry in column (4) occurring against all the tariff items of sub-heading 5515 99, the entry 12.5% or Rs 35 per sq metre, whichever is higher shall be substituted;

(xlv) for the entry in column (4) occurring against all the tariff items of sub-heading 5516 11, the entry 12.5% shall be substituted;

(xlvi) in tariff item 5516 12 00, for the entry in column (4), the entry 12.5% or Rs 35 per sq metre, whichever is higher shall be substituted;

(xlvii) in tariff item 5516 13 00, for the entry in column (4), the entry 12.5% or Rs 40 per sq metre, whichever is higher shall be substituted;

(xlviii) for the entry in column (4) occurring against all the tariff items of sub-heading 5516 14, the entry 12.5% or Rs 12 per sq metre, whichever is higher shall be substituted;

(xlix) for the entry in column (4) occurring against all the tariff items of sub-heading 5516 21, the entry 12.5% shall be substituted;

(l) in tariff items 5516 22 00 and 5516 23 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(li) in tariff item 5516 24 00, for the entry in column (4), the entry 12.5% or Rs 12 per sq metre, whichever is higher shall be substituted;

(lii) for the entry in column (4) occurring against all the tariff items of sub-heading 5516 31, the entry 12.5% shall be substituted;

(liii) in tariff items 5516 32 00, 5516 33 00 and 5516 34 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(liv) for the entry in column (4) occurring against all the tariff items of sub-heading 5516 41, the entry 12.5% shall be substituted;

(lv) in tariff item 5516 42 00, for the entry in column (4), the entry 12.5% shall be substituted;

(lvi) in tariff items 5516 43 00 and 5516 44 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 12 per sq metre, whichever is higher shall be substituted;

(lvii) for the entry in column (4) occurring against all the tariff items of sub-heading 5516 91, the entry 12.5% shall be substituted;

(lviii) in tariff item 5516 92 00, for the entry in column (4), the entry 12.5% shall be substituted;

(lix) in tariff item 5516 93 00, for the entry in column (4), the entry 12.5% or Rs 21 per sq metre, whichever is higher shall be substituted;

(lx) in tariff item 5516 94 00, for the entry in column (4), the entry 12.5% or Rs 40 per sq metre, whichever is higher shall be substituted;

(33) in Chapter 56, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(34) in Chapter 57,

(i) for the entry in column (4) occurring against all the tariff items of heading 5701, the entry 12.5% shall be substituted;

(ii) in tariff item 5702 10 00, for the entry in column (4), the entry 12.5% shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of sub-headings 5702 20 and 5702 31, the entry 12.5% shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of sub-heading 5702 32, the entry 12.5% or Rs 105 per sq metre, whichever is higher shall be substituted;

(v) for the entry in column (4) occurring against all the tariff items of sub-headings 5702 39 and 5702 41, the entry 12.5% shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of sub-heading 5702 42, the entry 12.5% or Rs 80 per sq metre, whichever is higher shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of sub-headings 5702 49 and 5702 51, the entry 12.5% shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of sub-heading 5702 52, the entry 12.5% or Rs 105 per sq metre, whichever is higher shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of sub-headings 5702 59 and 5702 91, the entry 12.5% shall be substituted;

(x) for the entry in column (4) occurring against all the tariff items of sub-heading 5702 92, the entry 12.5% or Rs 110 per sq metre, whichever is higher shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of sub-headings 5702 99 and 5703 10, the entry 12.5% shall be substituted;

(xii) for the entry in column (4) occurring against all the tariff items of sub-heading 5703 20, the entry 12.5% or Rs 70 per sq metre, whichever is higher shall be substituted;

(xiii) for the entry in column (4) occurring against all the tariff items of sub-heading 5703 30, the entry 12.5% or Rs 55 per sq metre, whichever is higher shall be substituted;

(xiv) for the entry in column (4) occurring against all the tariff items of sub-heading 5703 90, the entry 12.5% shall be substituted;

(xv) in tariff item 5704 10 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5704 90, the entry 12.5% or Rs 35 per sq metre, whichever is higher shall be substituted;

(xvii) for the entry in column (4) occurring against all the tariff items of heading 5705, the entry 12.5% shall be substituted;

(35) in Chapter 58,

(i) in tariff item 5801 10 00, for the entry in column (4), the entry 12.5% or Rs 210 per sq metre, whichever is higher shall be substituted;

(ii) in tariff item 5801 21 00, for the entry in column (4), the entry 12.5% or Rs 80 per sq metre, whichever is higher shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of sub-heading 5801 22, the entry 12.5% or Rs 75 per sq metre, whichever is higher shall be substituted;

(iv) in tariff item 5801 23 00, for the entry in column (4), the entry 12.5% or Rs 80 per sq metre, whichever is higher shall be substituted;

(v) in tariff item 5801 24 00, for the entry in column (4), the entry 12.5% or Rs 135 per sq metre, whichever is higher shall be substituted;

(vi) in tariff item 5801 25 00, for the entry in column (4), the entry 12.5% or Rs 120 per sq metre, whichever is higher shall be substituted;

(vii) in tariff item 5801 26 00, for the entry in column (4), the entry 12.5% or Rs 180 per sq metre, whichever is higher shall be substituted;

(viii) in tariff item 5801 31 00, for the entry in column (4), the entry 12.5% or Rs 75 per sq metre, whichever is higher shall be substituted;

(ix) in tariff item 5801 32 00, for the entry in column (4), the entry 12.5% or Rs 180 per sq metre, whichever is higher shall be substituted;

(x) in tariff item 5801 33 00, for the entry in column (4), the entry 12.5% or Rs 150 per sq metre, whichever is higher shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of sub-heading 5801 34, the entry 12.5% or Rs 140 per sq metre, whichever is higher shall be substituted;

(xii) in tariff item 5801 35 00, for the entry in column (4), the entry 12.5% or Rs 68 per sq metre, whichever is higher shall be substituted;

(xiii) for the entry in column (4) occurring against all the tariff items of sub-heading 5801 36, the entry 12.5% or Rs 130 per sq metre, whichever is higher shall be substituted;

(xiv) for the entry in column (4) occurring against all the tariff items of sub-heading 5801 90, the entry 12.5% or Rs 35 per sq metre, whichever is higher shall be substituted;

(xv) in tariff item 5802 11 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xvi) for the entry in column (4) occurring against all the tariff items of sub-heading 5802 19, the entry 12.5% or Rs 60 per sq metre, whichever is higher shall be substituted;

(xvii) in tariff item 5802 20 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxviii) in tariff item 5802 30 00, for the entry in column (4), the entry 12.5% or Rs 150 per kg, whichever is higher shall be substituted;

(xix) for the entry in column (4) occurring against all the tariff items of heading 5803, the entry 12.5% shall be substituted;

(xx) for the entry in column (4) occurring against all the tariff items of heading 5804, the entry 12.5% or Rs 200 per kg, whichever is higher shall be substituted;

(xxi) for the entry in column (4) occurring against all the tariff items of headings 5805, 5806, 5807, 5808 and 5809, the entry 12.5% shall be substituted;

(xxii) in tariff item 5810 10 00, for the entry in column (4), the entry 12.5% or Rs 200 per kg, whichever is higher shall be substituted;

(xxiii) in tariff item 5810 91 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 5810 92, the entry 12.5% shall be substituted;

(xxv) in tariff item 5810 99 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxvi) for the entry in column (4) occurring against all the tariff items of heading 5811, the entry 12.5% shall be substituted;

(36) in Chapter 59, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(37) in Chapter 60,

(i) for the entry in column (4) occurring against all the tariff items (except tariff item 6001 92 00), the entry 12.5% shall be substituted:

(ii) in tariff item 6001 92 00, for the entry in column (4), the entry 12.5% or Rs 100 per kg, whichever is higher shall be substituted;

(38) in Chapter 61,

(i) for the entry in column (4) occurring against all the tariff items of sub-heading 6101 10, the entry 12.5% or Rs 700 per piece, whichever is higher shall be substituted;

(ii) in tariff item 6101 20 00, for the entry in column (4), the entry 12.5% or Rs 540 per piece, whichever is higher shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of sub-heading 6101 30, the entry 12.5% or Rs 530 per piece, whichever is higher shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of sub-heading 6101 90, the entry 12.5% shall be substituted;

(v) in tariff item 6102 10 00, for the entry in column (4), the entry 12.5% or Rs 595 per piece, whichever is higher shall be substituted;

(vi) in tariff item 6102 20 00, for the entry in column (4), the entry 12.5% or Rs 425 per piece, whichever is higher shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of sub-heading 6102 30, the entry 12.5% or Rs 475 per piece, whichever is higher shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of sub-heading 6102 90, the entry 12.5% shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of heading 6103, the entry 12.5% shall be substituted;

(x) in tariff items 6104 11 00, 6104 12 00 and 6104 13 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of sub-heading 6104 19, the entry 12.5% or Rs 460 per piece, whichever is higher shall be substituted;

(xii) in tariff items 6104 21 00, 6104 22 00 and 6104 23 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(xiii) for the entry in column (4) occurring against all the tariff items of sub-heading 6104 29, the entry 12.5% shall be substituted;

(xiv) in tariff items 6104 31 00, 6104 32 00 and 6104 33 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(xv) for the entry in column (4) occurring against all the tariff items of sub-heading 6104 39, the entry 12.5% shall be substituted;

(xvi) in tariff item 6104 41 00, for the entry in column (4), the entry 12.5% or Rs 255 per piece, whichever is higher shall be substituted;

(xvii) in tariff item 6104 42 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xviii) in tariff items 6104 43 00 and 6104 44 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 255 per piece, whichever is higher shall be substituted;

(xix) for the entry in column (4) occurring against all the tariff items of sub-heading 6104 49, the entry 12.5% or Rs 220 per piece, whichever is higher shall be substituted;

(xx) in tariff items 6104 51 00, 6104 52 00 and 6104 53 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 110 per piece, whichever is higher shall be substituted;

(xxi) for the entry in column (4) occurring against all the tariff items of sub-heading 6104 59, the entry 12.5% or Rs 110 per piece, whichever is higher shall be substituted;

(xxii) in tariff item 6104 61 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxiii) in tariff items 6104 62 00 and 6104 63 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 98 per piece, whichever is higher shall be substituted;

(xxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 6104 69, the entry 12.5% shall be substituted;

(xxv) for the entry in column (4) occurring against all the tariff items of sub-headings 6105 10 and 6105 20, the entry 12.5% or Rs 83 per piece, whichever is higher shall be substituted;

(xxvi) for the entry in column (4) occurring against all the tariff items of sub-heading 6105 90, the entry 12.5% or Rs 90 per piece, whichever is higher shall be substituted;

(xxvii) in tariff item 6106 10 00, for the entry in column (4), the entry 12.5% or Rs 90 per piece, whichever is higher shall be substituted;

(xxviii) for the entry in column (4) occurring against all the tariff items of sub-heading 6106 20, the entry 12.5% or Rs 25 per piece, whichever is higher shall be substituted;

(xxix) for the entry in column (4) occurring against all the tariff items of sub-heading 6106 90, the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(xxx) in tariff item 6107 11 00, for the entry in column (4), the entry 12.5% or Rs 24 per piece, whichever is higher shall be substituted;

(xxxi) for the entry in column (4) occurring against all the tariff items of sub-heading 6107 12, the entry 12.5% or Rs 30 per piece, whichever is higher shall be substituted;

(xxxii) for the entry in column (4) occurring against all the tariff items of sub-heading 6107 19, the entry 12.5% shall be substituted;

(xxxiii) in tariff item 6107 21 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxxiv) for the entry in column (4) occurring against all the tariff items of sub-headings 6107 22, 6107 29, 6107 91, 6107 92 and 6107 99, the entry 12.5% shall be substituted;

(xxxv) for the entry in column (4) occurring against all the tariff items of sub-headings 6108 11 and 6108 19, the entry 12.5% shall be substituted;

(xxxvi) in tariff item 6108 21 00, for the entry in column (4), the entry 12.5% or Rs 25 per piece, whichever is higher shall be substituted;

(xxxvii) for the entry in column (4) occurring against all the tariff items of sub-heading 6108 22, the entry 12.5% or Rs 25 per piece, whichever is higher shall be substituted;

(xxxviii) for the entry in column (4) occurring against all the tariff items of sub-heading 6108 29, the entry 12.5% shall be substituted;

(xxxix) in tariff item 6108 31 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xl) for the entry in column (4) occurring against all the tariff items of sub-headings 6108 32 and 6108 39, the entry 12.5% shall be substituted;

(xli) in tariff item 6108 91 00, for the entry in column (4), the entry 12.5% or Rs 65 per piece, whichever is higher shall be substituted;

(xlii) for the entry in column (4) occurring against all the tariff items of sub-heading 6108 92, the entry 12.5% or Rs 60 per piece, whichever is higher shall be substituted;

(xliii) for the entry in column (4) occurring against all the tariff items of sub-heading 6108 99, the entry 12.5% shall be substituted;

(xliv) in tariff item 6109 10 00, for the entry in column (4), the entry 12.5% or Rs 45 per piece, whichever is higher shall be substituted;

(xlv) for the entry in column (4) occurring against all the tariff items of sub-heading 6109 90, the entry 12.5% or Rs 50 per piece, whichever is higher shall be substituted;

(xlvi) for the entry in column (4) occurring against all the tariff items of sub-heading 6110 11, the entry 12.5% or Rs 275 per piece, whichever is higher shall be substituted;

(xlvii) in tariff items 6110 12 00 and 6110 19 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 275 per piece, whichever is higher shall be substituted;

(xlviii) in tariff item 6110 20 00, for the entry in column (4), the entry 12.5% or Rs 85 per piece, whichever is higher shall be substituted;

(xlix) for the entry in column (4) occurring against all the tariff items of sub-heading 6110 30, the entry 12.5% or Rs 110 per piece, whichever is higher shall be substituted;

(l) in tariff item 6110 90 00, for the entry in column (4), the entry 12.5% or Rs 105 per piece, whichever is higher shall be substituted;

(li) for the entry in column (4) occurring against all the tariff items of headings 6111 and 6112, the entry 12.5% shall be substituted;

(lii) in tariff item 6113 00 00, for the entry in column (4), the entry 12.5% shall be substituted;

(liii) for the entry in column (4) occurring against all the tariff items of headings 6114, 6115, 6116 and 6117, the entry 12.5% shall be substituted;

(39) in Chapter 62,

(i) in tariff item 6201 11 00, for the entry in column (4), the entry 12.5% or Rs 385 per piece, whichever is higher shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of sub-heading 6201 12, the entry 12.5% or Rs 385 per piece, whichever is higher shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of sub-heading 6201 13, the entry 12.5% or Rs 320 per piece, whichever is higher shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of sub-heading 6201 19, the entry 12.5% shall be substituted;

(v) in tariff item 6201 91 00, for the entry in column (4), the entry 12.5% or Rs 220 per piece, whichever is higher shall be substituted;

(vi) in tariff item 6201 92 00, for the entry in column (4), the entry 12.5% or Rs 210 per piece, whichever is higher shall be substituted;

(vii) in tariff item 6201 93 00, for the entry in column (4), the entry 12.5% or Rs 180 per piece, whichever is higher shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of sub-heading 6201 99, the entry 12.5% shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of sub-heading 6202 11, the entry 12.5% or Rs 385 per piece, whichever is higher shall be substituted;

(x) in tariff item 6202 12 00, for the entry in column (4), the entry 12.5% or Rs 210 per piece, whichever is higher shall be substituted;

(xi) in tariff item 6202 13 00, for the entry in column (4), the entry 12.5% or Rs 385 per piece, whichever is higher shall be substituted;

(xii) for the entry in column (4) occurring against all the tariff items of sub-heading 6202 19, the entry 12.5% shall be substituted;

(xiii) for the entry in column (4) occurring against all the tariff items of sub-heading 6202 91, the entry 12.5% or Rs 220 per piece, whichever is higher shall be substituted;

(xiv) for the entry in column (4) occurring against all the tariff items of sub-heading 6202 92, the entry 12.5% or Rs 160 per piece, whichever is higher shall be substituted;

(xv) for the entry in column (4) occurring against all the tariff items of sub-heading 6202 93, the entry 12.5% or Rs 220 per piece, whichever is higher shall be substituted;

(xvi) for the entry in column (4) occurring against all the tariff items of sub-heading 6202 99, the entry 12.5% shall be substituted;

(xvii) in tariff item 6203 11 00, for the entry in column (4), the entry 12.5% or Rs 1100 per piece, whichever is higher shall be substituted;

(xviii) in tariff item 6203 12 00, for the entry in column (4), the entry 12.5% or Rs 720 per piece, whichever is higher shall be substituted;

(xix) for the entry in column (4) occurring against all the tariff items of sub-heading 6203 19, the entry 12.5% or Rs 1110 per piece, whichever is higher shall be substituted;

(xx) in tariff items 6203 21 00, 6203 22 00, 6203 23 00 and 6203 29 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 145 per piece, whichever is higher shall be substituted;

(xxi) in tariff item 6203 31 00, for the entry in column (4), the entry 12.5% or Rs 815 per piece, whichever is higher shall be substituted;

(xxii) in tariff item 6203 32 00, for the entry in column (4), the entry 12.5% or Rs 440 per piece, whichever is higher shall be substituted;

(xxiii) in tariff item 6203 33 00, for the entry in column (4), the entry 12.5% or Rs 320 per piece, whichever is higher shall be substituted;

(xxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 6203 39, the entry 12.5% or Rs 755 per piece, whichever is higher shall be substituted;

(xxv) in tariff item 6203 41 00, for the entry in column (4), the entry 12.5% or Rs 285 per piece, whichever is higher shall be substituted;

(xxvi) in tariff item 6203 42 00, for the entry in column (4), the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(xxvii) in tariff item 6203 43 00, for the entry in column (4), the entry 12.5% or Rs 110 per piece, whichever is higher shall be substituted;

(xxviii) for the entry in column (4) occurring against all the tariff items of sub-heading 6203 49, the entry 12.5% or Rs 110 per piece, whichever is higher shall be substituted;

(xxix) in tariff item 6204 11 00, for the entry in column (4), the entry 12.5% or Rs 550 per piece, whichever is higher shall be substituted;

(xxx) in tariff item 6204 12 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxxi) in tariff item 6204 13 00, for the entry in column (4), the entry 12.5% or Rs 550 per piece, whichever is higher shall be substituted;

(xxxii) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 19, the entry 12.5% or Rs 500 per piece, whichever is higher shall be substituted;

(xxxiii) in tariff item 6204 21 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 22, the entry 12.5% shall be substituted;

(xxxv) in tariff item 6204 23 00, for the entry in column (4), the entry 12.5% shall be substituted;

(xxxvi) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 29, the entry 12.5% shall be substituted;

(xxxvii) in tariff item 6204 31 00, for the entry in column (4), the entry 12.5% or Rs 370 per piece, whichever is higher shall be substituted;

(xxxviii) in tariff item 6204 32 00, for the entry in column (4), the entry 12.5% or Rs 650 per piece, whichever is higher shall be substituted;

(xxxix) in tariff item 6204 33 00, for the entry in column (4), the entry 12.5% or Rs 390 per piece, whichever is higher shall be substituted;

(xl) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 39, the entry 12.5% or Rs 350 per piece, whichever is higher shall be substituted;

(xli) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 41, the entry 12.5% or Rs 145 per piece, whichever is higher shall be substituted;

(xlii) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 42, the entry 12.5% or Rs 116 per piece, whichever is higher shall be substituted;

(xliii) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 43, the entry 12.5% or Rs 145 per piece, whichever is higher shall be substituted;

(xliv) in tariff item 6204 44 00, for the entry in column (4), the entry 12.5% or Rs 145 per piece, whichever is higher shall be substituted;

(xlv) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 49, the entry 12.5% or Rs 145 per piece, whichever is higher shall be substituted;

(xlvi) in tariff item 6204 51 00, for the entry in column (4), the entry 12.5% or Rs 485 per piece, whichever is higher shall be substituted;

(xlvii) in tariff items 6204 52 00 and 6204 53 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(xlviii) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 59, the entry 12.5% shall be substituted;

(xlix) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 61, the entry 12.5% or Rs 285 per piece, whichever is higher shall be substituted;

(l) in tariff item 6204 62 00, for the entry in column (4), the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(li) in tariff item 6204 63 00, for the entry in column (4), the entry 12.5% shall be substituted;

(lii) for the entry in column (4) occurring against all the tariff items of sub-heading 6204 69, the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(liii) in tariff item 6205 10 00, for the entry in column (4), the entry 12.5% or Rs 200 per piece, whichever is higher shall be substituted;

(liv) in tariff item 6205 20 00, for the entry in column (4), the entry 12.5% or Rs 85 per piece, whichever is higher shall be substituted;

(lv) in tariff item 6205 30 00, for the entry in column (4), the entry 12.5% or Rs 120 per piece, whichever is higher shall be substituted;

(lvi) for the entry in column (4) occurring against all the tariff items of sub-heading 6205 90, the entry 12.5% or Rs 95 per piece, whichever is higher shall be substituted;

(lvii) for the entry in column (4) occurring against all the tariff items of sub-heading 6206 10, the entry 12.5% shall be substituted;

(lviii) in tariff item 6206 20 00, for the entry in column (4), the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(lix) in tariff item 6206 30 00, for the entry in column (4), the entry 12.5% or Rs 95 per piece, whichever is higher shall be substituted;

(lx) in tariff item 6206 40 00, for the entry in column (4), the entry 12.5% or Rs 120 per piece, whichever is higher shall be substituted;

(lxi) in tariff item 6206 90 00, for the entry in column (4), the entry 12.5% shall be substituted;

(lxii) in tariff item 6207 11 00, for the entry in column (4), the entry 12.5% or Rs 28 per piece, whichever is higher shall be substituted;

(lxiii) for the entry in column (4) occurring against all the tariff items of sub-heading 6207 19, the entry 12.5% or Rs 30 per piece, whichever is higher shall be substituted;

(lxiv) in tariff items 6207 21 00, 6207 22 00 and 6207 29 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(lxv) for the entry in column (4) occurring against all the tariff items of sub-heading 6207 91, the entry 12.5% shall be substituted;

(lxvi) in tariff item 6207 92 00, for the entry in column (4), the entry 12.5% shall be substituted;

(lxvii) for the entry in column (4) occurring against all the tariff items of sub-heading 6207 99, the entry 12.5% or Rs 70 per piece, whichever is higher shall be substituted;

(lxviii) in tariff item 6208 11 00, for the entry in column (4), the entry 12.5% or Rs 80 per piece, whichever is higher shall be substituted;

(lxix) for the entry in column (4) occurring against all the tariff items of sub-heading 6208 19, the entry 12.5% or Rs 60 per piece, whichever is higher shall be substituted;

(lxx) in tariff items 6208 21 00 and 6208 22 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(lxxi) for the entry in column (4) occurring against all the tariff items of sub-heading 6208 29, the entry 12.5% shall be substituted;

(lxxii) for the entry in column (4) occurring against all the tariff items of sub-heading 6208 91, the entry 12.5% or Rs 95 per piece, whichever is higher shall be substituted;

(lxxiii) for the entry in column (4) occurring against all the tariff items of sub-heading 6208 92, the entry 12.5% or Rs 65 per piece, whichever is higher shall be substituted;

(lxxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 6208 99, the entry 12.5% shall be substituted;

(lxxv) for the entry in column (4) occurring against all the tariff items of heading 6209, the entry 12.5% shall be substituted;

(lxxvi) in tariff item 6210 10 00, for the entry in column (4), the entry 12.5% shall be substituted;

(lxxvii) for the entry in column (4) occurring against all the tariff items of sub-heading 6210 20, the entry 12.5% or Rs 365 per piece, whichever is higher shall be substituted;

(lxxviii) for the entry in column (4) occurring against all the tariff items of sub-heading 6210 30, the entry 12.5% or Rs 305 per piece, whichever is higher shall be substituted;

(lxxix) for the entry in column (4) occurring against all the tariff items of sub-heading 6210 40, the entry 12.5% or Rs 65 per piece, whichever is higher shall be substituted;

(lxxx) in tariff item 6210 50 00, for the entry in column (4), the entry 12.5% or Rs 65 per piece, whichever is higher shall be substituted;

(lxxxi) in tariff items 6211 11 00, 6211 12 00, 6211 20 00 and 6211 31 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(lxxxii) in tariff items 6211 32 00 and 6211 33 00, for the entry in column (4) occurring against each of them, the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(lxxxiii) in tariff items 6211 39 00 and 6211 41 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(lxxxiv) for the entry in column (4) occurring against all the tariff items of sub-heading 6211 42, the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(lxxxv) in tariff item 6211 43 00, for the entry in column (4), the entry 12.5% or Rs 135 per piece, whichever is higher shall be substituted;

(lxxxvi) in tariff item 6211 49 00, for the entry in column (4), the entry 12.5% shall be substituted;

(lxxxvii) for the entry in column (4) occurring against all the tariff items of heading 6212, the entry 12.5% or Rs 30 per piece, whichever is higher shall be substituted;

(lxxxviii) for the entry in column (4) occurring against all the tariff items of heading 6213, the entry 12.5% shall be substituted;

(lxxxix) for the entry in column (4) occurring against all the tariff items of sub-heading 6214 10, the entry 12.5% or Rs 390 per piece, whichever is higher shall be substituted;

(xc) for the entry in column (4) occurring against all the tariff items of sub-heading 6214 20, the entry 12.5% or Rs 180 per piece, whichever is higher shall be substituted;

(xci) in tariff items 6214 30 00 and 6214 40 00, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(xcii) for the entry in column (4) occurring against all the tariff items of sub-heading 6214 90, the entry 12.5% or Rs 75 per piece, whichever is higher shall be substituted;

(xciii) for the entry in column (4) occurring against all the tariff items of heading 6215, the entry 12.5% or Rs 55 per piece, whichever is higher shall be substituted;

(xciv) for the entry in column (4) occurring against all the tariff items of headings 6216 and 6217, the entry 12.5% shall be substituted;

(40) in Chapter 63,

(i) for the entry in column (4) occurring against all the tariff items (except tariff items 6301 20 00, 6302 21 00 and 6302 31 00), the entry 12.5% shall be substituted;

(ii) in tariff item 6301 20 00, for the entry in column (4), the entry 12.5% or Rs 275 per piece, whichever is higher shall be substituted;

(iii) in tariff item 6302 21 00, for the entry in column (4), the entry 12.5% or Rs 108 per kg, whichever is higher shall be substituted;

(iv) in tariff item 6302 31 00, for the entry in column (4), the entry 12.5% or Rs 96 per kg, whichever is higher shall be substituted;

(41) in Chapter 64, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(42) in Chapter 65, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(43) in Chapter 66, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(44) in Chapter 67, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(45) in Chapter 68, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(46) in Chapter 69, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(47) in Chapter 70, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(48) in Chapter 71, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(49) in Chapter 73, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(50) in Chapter 74, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(51) in Chapter 75, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(52) in Chapter 76, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(53) in Chapter 78, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(54) in Chapter 79, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(55) in Chapter 80, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(56) in Chapter 81, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(57) in Chapter 82, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(58) in Chapter 83, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(59) in Chapter 84, for the entry in column (4) occurring against all the tariff items (except tariff items 8407 21 00, 8456 91 00, 8469 11 00, 8470 10 00, 8470 21 00, 8470 29 00, 8470 30 00, 8470 40 10, 8470 40 20, 8470 50 10, 8470 50 20, 90 10, 8470 90 20, 8471 10 00, 8471 30 10, 8471 30 90, 8471 41 10, 8471 41 20, 8471 41 90, 8471 49 00, 8471 50 00, 8471 60 10, 8471 60 21, 8471 60 22, 8471 60 23, 8471 60 24, 8471 60 25, 8471 60 26, 8471 60 27, 8471 60 29, 8471 60 30, 8471 60 40, 8471 60 50, 8471 60 60, 8471 60 90, 8471 70 10, 8471 70 20, 8471 70 30, 8471 70 40, 8471 70 50, 8471 70 60, 8471 70 70, 8471 70 90, 8471 80 00, 8471 90 00, 8473 21 00, 8473 29 00, 8473 30 10, 8473 30 20, 8473 30 30, 8473 30 40, 8473 30 50, 8473 30 60, 8473 30 91, 8473 30 92, 8473 30 99 and 8473 50 00), the entry 12.5% shall be substituted;

(60) in Chapter 85,

(i) for the entry in column (4) occurring against all the tariff items of headings 8501, 8502, 8503, 8504, 8505, 8506, 8507, 8509, 8510, 8511, 8512, 8513, 8514, 8515, 8516, 8518 and 8519, the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of heading 8520 (except tariff item 8520 20 00), the entry 12.5% shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of headings 8521 and 8522, the entry 12.5% shall be substituted;

(iv) in tariff item 8523 30 00, for the entry in column (4), the entry 12.5% shall be substituted;

(v) for the entry in column (4) occurring against all the tariff items of heading 8524 (except all the tariff items of sub-headings 8524 31, 8524 40 and 8524 91), the entry 12.5% shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of heading 8525 (except all the tariff items of sub-heading 8525 20), the entry 12.5% shall be substituted;

(vii) for the entry in column (4) occurring against all the tariff items of headings 8526, 8527, 8528, 8529 and 8530, the entry 12.5% shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of heading 8531 (except tariff item 8531 20 00), the entry 12.5% shall be substituted;

(ix) for the entry in column (4) occurring against all the tariff items of headings 8535, 8536, 8537, 8538, 8539 and 8540 (except tariff item 8540 40 00), the entry 12.5% shall be substituted;

(x) for the entry in column (4) occurring against all the tariff items of heading 8543 (except tariff items 8543 11 00 and 8543 81 00), the entry 12.5% shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of heading 8544 (except tariff items 8544 70 10 and 8544 70 90), the entry 12.5% shall be substituted;

(xii) for the entry in column (4) occurring against all the tariff items of headings 8545, 8546, 8547 and 8548, the entry 12.5% shall be substituted;

(61) in Chapter 86, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(62) In Chapter 87,

(i) for the entry in column (4) occurring against all the tariff items of headings 8701 and 8702, the entry 12.5% shall be substituted;

(ii) for the entry in column (4) occurring against all the tariff items of headings 8704, 8705, 8706, 8707, 8708 and 8709, the entry 12.5% shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of headings 8712, 8713, 8714, 8715 and 8716, the entry 12.5% shall be substituted;

(63) in Chapter 88, for the entry in column (4) occurring against all the tariff items (except tariff items 8802 20 00, 8802 30 00, 8802 40 00, 8803 10 00, 8803 20 00 and 8803 30 00), the entry 12.5% shall be substituted;

(64) in Chapter 89, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(65) in Chapter 90,

(i) for the entry in column (4) occurring against all the tariff items of headings 9001, 9002, 9003, 9004, 9005, 9006, 9007 and 9008, the entry 12.5% shall be substituted;

(ii) in tariff items 9009 12 00, 9009 22 00 and 9009 30 00, for the entry in column (4), the entry 12.5% shall be substituted;

(iii) for the entry in column (4) occurring against all the tariff items of heading 9010 (except tariff items 9010 41 00, 9010 42 00 and 9010 49 00), the entry 12.5% shall be substituted;

(iv) for the entry in column (4) occurring against all the tariff items of headings 9011 and 9012, the entry 12.5% shall be substituted;

(v) for the entry in column (4) occurring against all the tariff items of heading 9013 (except tariff items 9013 80 10 and 9013 90 10), the entry 12.5% shall be substituted;

(vi) for the entry in column (4) occurring against all the tariff items of headings 9014, 9015, 9016, 9017, 9018 and 9019, the entry 12.5% shall be substituted;

(vii) in tariff item 9020 00 00, for the entry in column (4), the entry 12.5% shall be substituted;

(viii) for the entry in column (4) occurring against all the tariff items of headings 9021, 9022, 9023, 9024 and 9025, the entry 12.5% shall be substituted;

(ix) in tariff items 9027 10 00, 9027 40 00, 9027 90 10, 9027 90 20 and 9027 90 90, for the entry in column (4) occurring against each of them, the entry 12.5% shall be substituted;

(x) for the entry in column (4) occurring against all the tariff items of headings 9028 and 9029, the entry 12.5% shall be substituted;

(xi) for the entry in column (4) occurring against all the tariff items of heading 9030 (except tariff items 9030 40 00 and 9030 82 00), the entry 12.5% shall be substituted;

(xii) for the entry in column (4) occurring against all the tariff items of heading 9031 (except tariff item 9031 41 00), the entry 12.5% shall be substituted;

(xiii) for the entry in column (4) occurring against all the tariff items of heading 9032, the entry 12.5% shall be substituted;

(xiv) in tariff item 9033 00 00, for the entry in column (4), the entry 12.5% shall be substituted;

(66) in Chapter 91, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(67) in Chapter 92, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(68) in Chapter 93, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(69) in Chapter 94, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(70) in Chapter 95, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(71) in Chapter 96, for the entry in column (4) occurring against all the tariff items, the entry 12.5% shall be substituted;

(72) in Chapter 97, for the entry in column (4) occurring against all the tariff items (except tariff items 9704 00 10, 9704 00 20 and 9704 00 90), the entry 12.5% shall be substituted;

(73) in Chapter 98, for the entry in column (4) occurring against all the tariff items (except tariff item 9803 00 00), the entry 12.5% shall be substituted.

[See Section 63(b)]

In the First Schedule to the Customs Tariff Act,

(1) in Chapter 1, in heading 0105, for tariff items 0105 92 00 and 0105 93 00 and the entries relating thereto, the following entries shall be substituted, namely:

(2) in Chapter 2,

(i) in heading 0208, tariff item 0208 20 00 and the entries relating thereto shall be omitted;

(ii) in heading 0210, in the entry in column (2) appearing after tariff item 0210 20 00, for the words meat and meat offal , the words meat or meat offal shall be substituted;

(3) in Chapter 3,

(i) in heading 0301, after tariff item 0301 93 00 and the entries relating thereto, the following tariff items and entries shall be inserted, namely:

(ii) in heading 0302, after tariff item 0302 66 00 and the entries relating thereto, the following tariff items and entries shall be inserted, namely:

(iii) in heading 0303, for tariff items 0303 50 00 and 0303 60 00 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:

(iv) in heading 0304, for tariff item 0304 10 00, sub-heading 0304 20, tariff items 0304 20 10 to 0304 90 00 and the entries relating thereto, the following sub-heading and tariff items and entries shall be substituted, namely:

(4) in Chapter 4,

(i) in sub-heading Note 1, for the letters i.e. , the words that is shall be substituted;

(ii) in tariff item 0406 40 00, for the entry in column (2), the following entry shall be substituted, namely:

Blue-veined cheese and other cheese containing veins produced by Penicillium roqueforti; ;

(5) in Chapter 5,

(i) tariff item 0503 00 00 and the entries relating thereto shall be omitted;

(ii) heading 0509, sub-heading 0509 00, tariff items 0509 00 10 and 0509 00 90 and the entries relating thereto shall be omitted;

(6) in Chapter 6, in heading 0603, for tariff item 0603 10 00 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:

(7) in Chapter 7,

(i) in heading 0709, tariff items 0709 10 00 and 0709 52 00 and the entries relating thereto shall be omitted;

(ii) in heading 0711, tariff item 0711 30 00 and the entries relating thereto shall be omitted;

(8) in Chapter 8,

(i) in Note 3, in clauses (a) and (b), for the letters e.g. wherever they occur, the words for example shall be substituted;

(ii) in heading 0802, after tariff item 0802 50 00 and the entries relating thereto, the following tariff item and entries shall be inserted, namely:

(iii) in heading 0805, in tariff item 0805 40 00, for the entry in column (2), the entry Grapefruit, including pomelos shall be substituted;

(iv) in heading 0810, tariff item 0810 30 00 and the entries relating thereto shall be omitted;

(9) in Chapter 9,

(i) in heading 0906, for sub-heading 0906 10, tariff items 0906 10 10 to 0906 10 90 and the entries relating thereto, the following sub-headings, tariff items and entries shall be substituted, namely:

(ii) in heading 0910, sub-heading 0910 40, tariff items 0910 40 10 to 0910 50 00 and the entries relating thereto shall be omitted;

(10) in Chapter 10, in Note 1, for the brackets and letters (a) and (b) wherever they occur, the brackets and letters (A) and (B) shall respectively be substituted;

(11) in Chapter 11, in heading 1102, tariff item 1102 30 00 and the entries relating thereto shall be omitted;

(12) in Chapter 12,

(i) in heading 1207,

(a) sub-heading 1207 10, tariff items 1207 10 10 and 1207 10 90 and the entries relating thereto shall be omitted;

(b) sub-heading 1207 30, tariff items 1207 30 10 and 1207 30 90 and the entries relating thereto shall be omitted;

(c) sub-heading 1207 60, tariff items 1207 60 10 and 1207 60 90 and the entries relating thereto shall be omitted;

(ii) in heading 1209, tariff item 1209 26 00 and the entries relating thereto shall be omitted;

(iii) in heading 1211, tariff item 1211 10 00 and the entries relating thereto shall be omitted;

(iv) in heading 1212,

(a) sub-heading 1212 10, tariff items 1212 10 10 and 1212 10 90 and the entries relating thereto shall be omitted;

(b) sub-heading 1212 30, tariff items 1212 30 10 and 1212 30 90 and the entries relating thereto shall be omitted;

(13) in Chapter 13,

(i) in heading 1301,

(a) sub-heading 1301 10, tariff items 1301 10 10 to 1301 10 90 and the entries relating thereto shall be omitted;

(b) after tariff item 1301 90 49 and the entries relating thereto, the following tariff item and entries shall be inserted, namely:

(ii) in heading 1302, tariff item 1302 14 00 and the entries relating thereto shall be omitted;

(14) in Chapter 14,

(i) for Notes 3 and 4, the following Note shall be substituted, namely:

3. Heading 1404 does not apply to wood wool (heading 4405) and prepared knots or tufts for broom or brush making (heading 9603). ;

(ii) tariff item 1402 00 00 and the entries relating thereto shall be omitted;

(iii) heading 1403, sub-heading 1403 00, tariff items 1403 00 10 and 1403 00 90 and the entries relating thereto shall be omitted;

(iv) in heading 1404, sub-heading 1404 10, tariff items 1404 10 11 to 1404 10 90 and the entries relating thereto shall be omitted;

(15) in Chapter 15, in heading 1515, tariff item 1515 40 00 and the entries relating thereto shall be omitted;

(16) in Chapter 19, in Note 3, for the word coated , the words completely coated shall be substituted;

(17) in Chapter 20,

(i) in Note 1,

(a) for clause (b), the word or occurring at the end shall be omitted;

(b) for clause (c), the following clauses shall be substituted, namely:

(c) bakers' wares and other products of heading 1905; or

(d) homogenized composite food preparations of heading 2104. ;

(ii) in heading 2005, for tariff item 2005 90 00 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:

(iii) in heading 2009, after tariff item 2009 19 00, for the entry in column (2), the following entry shall be substituted, namely:

(18) in Chapter 22,

(i) in Note 1, in clause (c), for the word and figures heading 2851 the word and figures heading 2853 shall be substituted;

(ii) in heading 2208, for sub-heading 2208 40, tariff items 2208 40 11 and 2208 40 12 and the entries relating thereto, the following sub-heading, tariff items and entries relating thereto shall be substituted, namely:

(19) in Chapter 23,

(i) in heading 2302, sub-heading 2302 20, tariff items 2302 20 10 to 2302 20 90 and the entries relating thereto shall be omitted;

(ii) in heading 2306, tariff item 2306 70 00 and the entries relating thereto shall be omitted;

(20) in Chapter 25,

(i) in heading 2506, for tariff item 2506 10 20, sub-heading 2506 21, tariff items 2506 21 10 to 2506 29 00 and the entries relating thereto, the following sub-heading, tariff items and entries shall be substituted, namely:

(ii) in heading 2508, sub-heading 2508 20, tariff items 2508 20 10 and 2508 20 90 and the entries relating thereto shall be omitted;

(iii) for heading 2513, tariff items 2513 11 00 and 2513 19 00 and the entries relating thereto, the following heading, tariff item and entries shall be substituted, namely:

(iv) in heading 2516, for tariff items 2516 12 00 to 2516 22 00 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:

(v) in heading 2524, for sub-heading 2524 00, tariff items 2524 00 11 to 2524 00 99 and the entries relating thereto, the following sub-heading, tariff items and entries shall be substituted, namely:

(vi) in heading 2529,

(a) in the entry in column (2), for the word FELSPAR , the word FELDSPAR shall be substituted;

(b) in sub-heading 2529 10, in the entry in column (2), for the word Felspar , the word Feldspar shall be substituted;

(21) in Chapter 26,

(i) in Note 3, for the word ash wherever it occurs, the words slag, ash shall be substituted;

(ii) in sub-heading Note 2, for the word Ash , the words Slag, ash shall be substituted;

(iii) in heading 2620, in the entry in column (2), for the word ASH , the words SLAG, ASH shall be substituted;

(22) in Chapter 27,

(i) for sub-heading Note 3, the following Sub-heading Note shall be substituted, namely:

3. For the purposes of tariff items 2707 10 00, 2707 20 00, 2707 30 00 and 2707 40 00, the terms benzol (benzene) , toluol (toluene) , xylol (xylenes) and naphthalene apply to products which contain more than 50% by weight of benzene, toluene, xylenes or naphthalene, respectively. ;

(ii) in heading 2707, tariff item 2707 60 00 and the entries relating thereto shall be omitted;

(23) in Section VI, in Note 1,

(i) in paragraph (a), for the brackets and letter (a) , the brackets and letter (A) shall be substituted;

(ii) for paragraph (b), the following paragraph shall be substituted, namely:

(B) Subject to paragraph (A) above, goods answering to a description in heading 2843, 2846 or 2852 are to be classified in those headings and in no other heading of this section. ;

(24) in Chapter 28,

(i) in Note 2,

(a) for the words, brackets and figures inorganic bases (heading 2838), organic products included in headings 2843 to 2846 , the words, brackets and figures inorganic bases (heading 2842), organic products included in heading 2843 to 2846 and 2852 shall be substituted;

(b) in clause (e), for the word and figures heading 2851 , the word and figures heading 2853 shall be substituted;

(ii) in heading 2811, tariff item 2811 23 00 and the entries relating thereto shall be omitted;

(iii) in heading 2824, tariff item 2824 20 00 and the entries relating thereto shall be omitted;

(iv) in heading 2826,

(a) sub-heading 2826 11, tariff items 2826 11 10 and 2826 11 20 and the entries relating thereto shall be omitted;

(b) sub-heading 2826 20, tariff items 2826 20 10 and 2826 20 20 and the entries relating thereto shall be omitted;

(v) in heading 2827, tariff items 2827 33 00, 2827 34 00 and 2827 36 00 and the entries relating thereto shall be omitted;

(vi) in heading 2830, tariff items 2830 20 00 and 2830 30 00 and the entries relating thereto shall be omitted;

(vii) in heading 2833,

(a) tariff item 2833 23 00 and the entries relating thereto shall be omitted;

(b) sub-heading 2833 26, tariff items 2833 26 10 and 2833 26 90 and the entries relating thereto shall be omitted;

(viii) in heading 2835, tariff items 2835 23 00 and the entries relating thereto shall be omitted;

(ix) in heading 2836, tariff items 2836 10 00 and 2836 70 00 and the entries relating thereto shall be omitted;

(x) heading 2838, sub-heading 2838 00, tariff items 2838 00 10 to 2838 00 30 and the entries relating thereto shall be omitted;

(xi) in heading 2839, tariff item 2839 20 00 and the entries relating thereto shall be omitted;

(xii) in heading 2841, sub-heading 2841 10, tariff items 2841 10 10, 2841 10 90, sub-heading 2841 20, tariff items 2841 20 10 and 2841 20 20 and the entries relating thereto shall be omitted;

(xiii) for heading 2851, sub-heading 2851 00, tariff items 2851 00 10 to 2851 00 90 and the entries relating thereto, the following heading, sub-heading and tariff items and the entries shall be substituted, namely:

(25) in Chapter 29,

(i) in Note 5,

(a) for brackets and letters (a) , (b) , (c) , (d) and (e) , the brackets and letters (A) , (B) , (C) , (D) and (E) shall respectively be substituted;

(b) in paragraph (C), so re-numbered,

(A) for the brackets and letters (A) and (B) , the brackets and figures (1) and (2) shall respectively be substituted;

(B) after sub-paragraph (2) so re-numbered, the following sub-paragraph shall be inserted, namely:

(3) co-ordination compounds, other than products classifiable in Sub-Chapter XI or heading 2941, are to be classified in the heading which occurs last in numerical order in Chapter 29, among those appropriate to the fragments formed by cleaving of all metal bonds, other than metal-carbon bonds. ;

(ii) in Note 6, the word , mercury shall be omitted;

(iii) for sub-heading Note, the following sub-heading Notes shall be substituted, namely:

Sub-heading Notes

1. Within any one heading of this Chapter, derivatives of a chemical compound (or group of chemical compounds) are to be classified in the same sub-heading as that compound (or group of compounds) provided that they are not more specially covered by any other sub-heading and that there is no residual sub-heading named other in the series of sub-headings concerned.

2. Note 3 to this Chapter shall not be applicable to the sub-headings of this Chapter. ;

(iv) in heading 2903,

(a) in tariff item 2903 15 00, for the entry in column (2), the following entry shall be substituted, namely:

(b) for sub-heading 2903 30, tariff items 2903 30 11 to 2903 30 30 and the entries relating thereto, the following sub-heading, tariff items and entries shall be substituted, namely:

(c) for tariff item 2903 51 00 and the entries relating thereto, the following tariff items shall be substituted, namely:

(d) for sub-heading 2903 62, tariff items 2903 62 10 to 2903 62 29 and the entries relating thereto, the following sub-heading, tariff items and entries shall be substituted, namely:

(v) in heading 2905, tariff item 2905 15 00 and the entries relating thereto shall be omitted;

(vi) in heading 2906, tariff item 2906 14 00 and the entries relating thereto shall be omitted;

(vii) in heading 2907, tariff item 2907 14 00 and the entries relating thereto shall be omitted;

(viii) in heading 2908, for tariff item 2908 10 00, sub-heading 2908 20, tariff item 2908 20 10 to 2908 20 29, sub-heading 2908 90, tariff item 2908 90 10 to 2908 90 90 and the entries relating thereto, the following sub-heading, tariff items and entries shall be substituted, namely:

(ix) in heading 2909, tariff item 2909 42 00 and the entries relating thereto shall be omitted;

(x) in heading 2910, after tariff item 2910 30 00 and the entries relating thereto, the following tariff item and entries shall be inserted, namely:

(xi) in heading 2912, tariff item 2912 13 00 and the entries relating thereto shall be omitted;

(xii) in heading 2915,

(a) tariff items 2915 22 00 and 2915 23 00 and the entries relating thereto shall be omitted;

(b) for tariff items 2915 34 00 and 2915 35 00 and the entries relating thereto, the following tariff item and entries shall be substituted, namely:

(xiii) in heading 2916, after tariff item 2916 35 00 and the entries relating thereto, the following tariff item and entries shall be inserted, namely:

(xiv) in heading 2917, tariff item 2917 31 00 and the entries relating thereto shall be omitted;

(xv) in heading 2918,

(a) after tariff item 2918 16 90 and the entries relating thereto, the following tariff item and entries shall be inserted, namely:

(b) for tariff item 2918 90 00 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:

(xvi) for heading 2919, sub-heading 2919 00, tariff items 2919 00 10 to 2919 00 90 and the entries relating thereto, the following heading, sub-heading, tariff items and entries shall be substituted, namely:

(xvii) for heading 2920, tariff items 2920 10 10 and 2920 10 20 and the entries relating thereto, the following heading, sub-heading, tariff items and the entries shall be substituted, namely:

(xviii) in heading 2921, tariff item 2921 12 00 and the entries relating thereto shall be omitted;

(xix) in heading 2922, sub-heading 2922 22, tariff items 2922 22 10 to 2922 22 90 and the entries relating thereto shall be omitted;

(xx) in heading 2924, after tariff item 2924 11 00 and the entries relating thereto, the following tariff item and the entries shall be inserted, namely:

(xxi) in heading 2925, for sub-heading 2925 20, tariff items 2925 20 10 and 2925 20 90 and the entries relating thereto, the following sub-heading, tariff items and the entries shall be substituted, namely:

(xxii) in heading 2930,

(a) tariff item 2930 10 00 and the entries relating thereto shall be omitted;

(b) after tariff item 2930 40 00 and the entries relating thereto, the following tariff item and the entries shall be inserted, namely:

(xxiii) in heading 2936, tariff item 2936 10 00 and the entries relating thereto shall be omitted;

(xxiv) in heading 2939, for tariff item 2939 19 00, sub-heading 2939 21, tariff items 2939 21 10 to 2939 29 00 and the entries relating thereto, the following sub-heading, tariff items and entries shall be substituted, namely:

(26) in Chapter 30,

(i) in Note 4,

(a) in clause (a), for the words suture materials , the words suture materials (including sterile absorbable surgical or dental yarns) shall be substituted;

(b) in clause (c), after the word haemostatics , the following words shall be inserted, namely:

sterile surgical or dental adhesion barriers, whether or not absorbable; ;

(c) after clause (j), the following clause shall be inserted, namely:

(k) appliances identifiable for ostomy use, that is, colostomy, ileostomy and urostomy pouches cut to shape and their adhesive wafers or faceplates. ;

(ii) in heading 3001, sub-heading 3001 10, tariff items 3001 10 10 to 3001 10 99 and the entries relating thereto shall be omitted;

(iii) in heading 3004, in tariff item 3004 32 00, in column (2), for the word and , the word or shall be substituted;

(iv) in heading 3006

(a) for sub-heading 3006 10, tariff items 3006 10 10 and 3006 10 20 and the entries relating thereto, the following sub-heading, tariff items and entries shall be substituted, namely:

(b) for tariff item 3006 80 00 and the entries relating thereto, the following tariff items and entries shall be substituted, namely:

(27) in Chapter 31,

(i) in Note 1, in clause (b), for the brackets and letter (A) wherever they occur, the brackets and letter (a) shall be substituted;

(ii) in Note 2, for the brackets and letters (A) , (B) , (C) and (D) wherever they occur, the brackets and letters (a) , (b) , (c) and (d) shall respectively be substituted;

(iii) in Note 3, for the brackets and letters (A) , (B) and (C) wherever they occur, the brackets and letters (a) , (b) and (c) shall respectively be substituted;

(iv) in Note 4, for the brackets and letters (A) and (B) wherever they occur, the brackets and letters (a) and (b) shall respectively be substituted;

(v) in heading 3102, tariff item 3102 70 00 and the entries relating thereto shall be omitted;

(vi) in heading 3103, tariff item 3103 20 00 and the entries relating thereto shall be omitted;

(vii) in heading 3104, tariff item 3104 10 00 and the entries relating thereto shall be omitted;

(28) in Chapter 32, in heading 3206, tariff items 3206 30 00 and 3206 43 00 and the entries relating thereto shall be omitted;

(29) in Chapter 33,

(i) in heading 3301,

(a) tariff items 3301 11 00, 3301 14 00 and 3301 21 00 and the entries relating thereto shall be omitted;

(b) sub-heading 3301 22, tariff items 3301 22 10 and 3301 22 90 and the entries relating thereto shall be omitted;

(c) tariff items 3301 23 00 and 3301 26 00 and the entries relating thereto shall be omitted;

(30) in Chapter 34,

(i) in Note 5,

(a) for the brackets and letters (A) , (B) and (C) wherever they occur, the brackets and letters (a) , (b) and (c) shall respectively be substituted;

(b) for the brackets and letters (a) , (b) , (c) and (d) wherever they occur, the brackets and figures (i) , (ii) , (iii) and (iv) shall respectively be substituted;

(ii) in heading 3404, tariff item 3404 10 00 and the entries relating thereto shall be omitted;

(31) in Chapter 37,

(i) in heading 3702, tariff item 3702 20 00 and the entries relating thereto shall be omitted;

(ii) in heading 3705, tariff item 3705 20 00 and the entries relating thereto shall be omitted;

(32) in Chapter 38,

(i) in Note 1, in clause (c), for the word ash , the words slag, ash shall be substituted;

(ii) for sub-heading Note, the following Sub-heading Notes shall be substituted, namely:

1. Sub-heading 3808 50 covers only goods of heading 3808, containing one or more of the following substances: aldrin (ISO); binapacryl (ISO); camphechlor (ISO) (toxaphene); captafol (ISO); chlordane (ISO); chlordimeform (ISO); chlorobenzilate (ISO); DDT (ISO) (clofenotane (INN), 1, 1, 1-trichloro-2, 2-bis (p-chlorphenyl) ethane); dieldrin (ISO, INN), dinoseb (ISO), its salts or its esters; ethylene dibromide (ISO) (1, 2-dibromoethane); ethylene dichloride (ISO) (1, 2- dichloroethane); fluoroacetamide (ISO); heptachlor (ISO); hexachlorobenzene (ISO); 1, 2, 3, 4, 5, 6 - hexachlorocyclohexane (HCH (ISO)), including lindane (ISO, INN); mercury compounds; methamidophos (ISO); monocrotophos (ISO); oxirane (ethylene oxide); parathion (ISO); parathion-methyl (ISO) (methyl-parathion); pentachlorophenol (ISO); phosphamidon (ISO); 2, 4, 5-T (ISO) (2, 4, 5-trichlorophenoxyacetic acid), its salts or its esters.

2. For the purposes of tariff items 3825 41 00 and 3825 49 00, waste organic solvents are wastes containing mainly organic solvents, not fit for further use as presented as primary products, whether or not intended for recovery of the solvents. ;

(iii) in heading 3805, tariff item 3805 20 00 and the entries relating thereto shall be omitted;

(iv) in heading 3808, for sub-heading 3808 10, tariff items 3808 10 11 to 3808 10 99, sub-heading 3808 20, tariff items 3808 20 10 to 3808 20 90, sub-heading 3808 30, tariff items 3808 30 10 to 3808 40 00, sub-heading 3808 90, tariff items 3808 90 10 and 3808 90 90 and the entries relating thereto, the following sub-headings, tariff items and entries shall be substituted, namely: