The Provisional Collection of Taxes Act, 2023

On 28th December, 2023, the President gave assent to the Provisional Collection of Taxes Bill, 2023.

  • The Act repeals the Provisional Collection of Taxes Act, 1931 which provides for the interim imposition or increase of customs or excise duty.
  • It aims to provide immediate effects for a limited period to provisions in Bills related to customs or excise duties

Key Provisions

Empowering Central Government

  • The Act empowers the Central Government to introduce Bills in Parliament with provisions for the imposition or increase of customs or excise duties. Notably, these provisions can take immediate effect under the Act.

Declaration Mechanism

  • Section 3 ....
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