|
THE CENTRAL EXCISE ACT, 1944 [Act No. 1 of 1944] |
An Act to consolidate and amend the law
relating to Central Duties of Excise
[24th February, 1944]
CHAPTER IIA
INDICATING AMOUNT OF DUTY IN THE PRICE OF GOODS, ETC.,
FOR PURPOSE OF REFUND AND CREDITING
CERTAIN AMOUNTS TO THE FUND
SECTION 12A. Price of goods to indicate the
amount of duty paid thereon. — Notwithstanding anything contained in this Act or any other law for the
time being in force, every person who is liable to pay duty of excise on
any goods shall, at the time of clearance of the goods, prominently indicate in
all the documents relating to assessment, sales invoice, and other like
documents, the amount of such duty which will form part of the price at which
such goods are to be sold.
SECTION 12B. Presumption that the incidence of
duty has been passed on to the buyer. — Every person who has
paid the duty of excise on any goods under this Act shall, unless the contrary
is proved by him, be deemed to have passed on the full incidence of such duty
to the buyer of such goods.
SECTION
12C. Consumer
Welfare Fund. —
(1) There shall be established by the Central
Government a fund, to be called the Consumer Welfare Fund.
(2)
There shall be credited to the Fund, in such manner as may be
prescribed, -
(a) the amount of
duty of excise referred to in sub-section (2) of
section 11B or sub-section (2) of section 11C or sub-section (2) of section
11D;
(b) the amount of duty of customs
referred to in sub-section (2) of section 27 or sub-section (2) of section 28A,
or sub-section (2) of section 28B of the Customs Act, 1962 (52 of 1962);
(c) any
income from investment of the amount credited to the Fund and any other monies
received by the Central Government for the purposes of this Fund.
(d) the surplus amount referred to in sub-section (6) of section
73A of the Finance Act, 1994 (32 of 1994).
SECTION 12D. Utilisation of the Fund.
— (1) Any money
credited to the Fund shall be utilised by the Central
Government for the welfare of the consumers in accordance with such rules as
that Government may make in this behalf.
(2)
The Central Government shall maintain or, if it thinks fit, specify the
authority which shall maintain, proper and separate account and other relevant
records in relation to the Fund in such form as may be prescribed in
consultation with the Comptroller and Auditor-General
|
Site is maintained under supervision of
Directorate General of Systems and Data Management, New Delhi |
|
This site is best viewed with Internet Explorer 5.0
and above with 1024 X 768 pixels
resolution