Bare Act Search Results

Finance (No. 2) Act, 1998 Complete Act

State: Central

Year: 1998

FINANCE (NO. 2) ACT, 1998 FINANCE (NO. 2) ACT, 1998 21 of 1998 An Act to give effect to the financial proposals of the Central Government for the financial year 1998-99 BE it enacted by Parliament in the Forty-ninth Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance (No. 2) Act, 1998. (2) Save as otherwise provided in this Act, sections 2 to 98 (except section 51) shall be deemed to have come into force on the 1st day of April, 1998. SECTION 02: INCOME -TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 1998, income-tax shall be charged at the rates specified in Part I of the First Schedule. (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 six hundred rupees, in addition to total income, and the total income exceeds forty thousand 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.....

Finance (No. 2) Act, 1998 Chapter VI

Title: Service Tax

State: Central

Year: 1998

.....whether movable or immovable, or of any person, in any manner and includes the services of investigation, detection or verification, of any fact or activity, whether of a personal nature or otherwise, including the services of providing security personnel; (41) "service tax" means tax leviable under the provisions of this chapter; (42) "ship" means a sea-going vessel and includes a sailing vessel; (43) "shipping line" means any person who owns or charters a ship and includes an enterprise which operates or manages the business of shipping; (44) "steamer agent" means any person who undertakes, either directly or indirectly:-- (a) to perform any service in connection with the ship's husbandry or dispatch including the rendering of administrative work related thereto; or (b) to book, advertise or canvas for cargo for or on behalf of a shipping line; or (c) to provide container feeder services for or on behalf of a shipping line; (45) "stock-broker" means a stock-broker who has either made an application for registration or is registered as a stock-broker in accordance with the rules and regulations made under the Securities and Exchange Board of India Act,.....

Finance (No. 2) Act, 1998 Section 116

Title: Amendment of Act 32 of 1994

State: Central

Year: 1998

.....whether movable or immovable, or of any person, in any manner and includes the services of investigation, detection or verification, of any fact or activity, whether of a personal nature or otherwise, including the services of providing security personnel; (41) "service tax" means tax leviable under the provisions of this chapter; (42) "ship" means a sea-going vessel and includes a sailing vessel; (43) "shipping line" means any person who owns or charters a ship and includes an enterprise which operates or manages the business of shipping; (44) "steamer agent" means any person who undertakes, either directly or indirectly:-- (a) to perform any service in connection with the ship's husbandry or dispatch including the rendering of administrative work related thereto; or (b) to book, advertise or canvas for cargo for or on behalf of a shipping line; or (c) to provide container feeder services for or on behalf of a shipping line; (45) "stock-broker" means a stock-broker who has either made an application for registration or is registered as a stock-broker in accordance with the rules and regulations made under the Securities and Exchange Board of India Act,.....

Finance (No. 2) Act, 1998 Section 103

Title: Additional Duty of Customs (Motor Spirit)

State: Central

Year: 1998

(1) In the case of goods specified in the Second Schedule, being goods imported into India, there shall be levied and collected as an additional duty of customs an amount calculated at the rate set forth in the said Schedule. (2) The additional duty of customs referred to in sub-section (1) shall be in addition to any other duties of customs chargeable on such goods under the Customs Act, or any other law for the time being in force. (3) The provisions of the Customs Act and the rules and regulations made thereunder, including those relating to refunds and exemptions from duties, shall, as far as may be, apply in relation to the levy and collection of the additional duty of customs leviable under this section in respect of any goods as they apply in relation to the levy and collection of the duties of customs on such goods under that Act or those rules and regulations, as the case may be.

Finance (No. 2) Act, 1998 Chapter IV

Title: Kar Vivad Samadhan Scheme, 1998

State: Central

Year: 1998

.....any person against whom proceedings have been initiated and are pending under any direct tax enactment or indirect tax enactment; (l) "relevant Act" means an Act specified in the Schedule to this Scheme; (m) "tax arrear" means,- (i) in relation to direct tax enactment, the amount of tax, penalty or interest determined on or before the 31st day of March, 1998 under that enactment in respect of an assessment year as modified in consequence of giving effect to an appellate order but remaining unpaid on the date of declaration; (ii) in relation to indirect tax enactment,- (a) the amount of duties (including drawback of duty, credit of duty or any amount representing duty), cesses, interest, fine or penalty determined as due or payable under that enactment as on the 31st day of March, 1998 but remaining unpaid as on the date of making a declaration under section 88; or (b) the amount of duties (including drawback of duty, credit of duty or any amount representing duty), cesses, interest, fine or penalty which constitutes the subject matter of a demand notice or a show-cause notice issued on or before the 31st day of March, 1998 under that enactment but remaining unpaid.....

Finance (No. 2) Act, 1998 Chapter III

Title: Direct Taxes

State: Central

Year: 1998

.....sold or otherwise transferred by the assessee to Government, a local authority, a corporation established by or under a Central, State of Provincial Act or a Government company as defined in section 617 of the Companies Act, 1956; or (ii) where the sale or transfer of the asset is made in connection with the succession of a firm by a company in the business or profession carried on by the firm as a result of which the firm sells or otherwise transfers to the company any asset and the scheme or the deposit scheme continues to apply to the company in the manner applicable to the firm. Explanation.-- The provisions of clause (ii) of the proviso shall apply only where-- (i) all the properties of the firm relating to the business or profession immediately before the succession become the properties of the company; (ii) all the liabilities of the firm relating to the business or profession immediately before the succession become the liabilities of the company; and (iii) all the shareholders of the company were partners of the firm immediately before the succession. (9) The Central Government may, if it considers necessary or expedient so to do, by notification in the.....

Finance (No. 2) Act, 1998 Section 98

Title: Power to Make Rules

State: Central

Year: 1998

.....The Limestone and Dolomite Mines Labour Welfare Fund Act, 1972. 17. The Marine Products Export Development Authority Act, 1972. 18. The Coal Mines (Conservation and Development) Act, 1974. 19. The Oil Industry (Development) Act, 1974. 20. The Tobacco Cess Act, 1975. 21. The Iron Ore Mines, Manganese Ore Mines and Chrome Ore Mines Labour Welfare Cess Act, 1976. 22. The Beedi Workers Welfare Cess Act, 1976. 23. The Additional Duties of Excise (Textiles and Textile Articles) Act, 1978. 24. The Sugar Cess Act, 1982. 25. The Jute Manufacturers Cess Act, 1983. 26. The Agricultural and Processed Food Products Export Cess Act, 1985. 27. The Spices Cess Act, 1986. 28. Any other enactment imposing the auxiliary duty of customs or the special duty of excise.

The Rajasthan Stamp Act, 1998 Complete Act

State: Rajasthan

Year: 1998

.....w.e.f. 24.3.2005) (viii-A) "Chief Controlling Revenue Authority" means Rajasthan Tax Board Constituted under section 90 of the Rajasthan Sales Tax Act 1994 (Act No. 22 of 1995);" (ix) "clearance list" means a list of transactions relating to contract; required to be submitted to the clearing house of an association ii accordance with the rules or bye-laws of the association : Provided that no instrument shall, for the purposes of this Act, be deemed to be a clearance list unless it contains the following declaration signed by the person dealing in such transaction or on his behalf by a properly constituted attorney, namely-- "I/We hereby solemnly declare that the above list contains a complete and true statement of my/our transactions including crossed out transactions and transactions required to be submitted to the clearing house in accordance with the rules/bye-laws of the association. I/We further declare that no transaction for which an exemption is claimed under Article 5 or Article 36 in Schedule to the Rajasthan Stamp Act, 1998, as the case may be, is omitted." Explanation--Transaction for the purpose of this clause shall include both sale and purchase. (x).....

Electricity Regulatory Commissions Act, 1998 Complete Act

State: Central

Year: 1998

.....in the generation, transmission, sale, distribution or supply, as the case may be, of energy; (m) words and expressions used and not defined in this Act but defined in the Electricity (Supply) Act, 1948 (54 of 1948)-or the Indian Electricity Act, 1910 (9 of 1910)-shall have the meanings respectively assigned to them in those Acts. SECTION 03: ESTABLISHMENT AND INCORPORATION OF CENTRAL COMMISSION (1) The Central Government shall, within three months from the date of the commencement of this Act by notification in the Official Gazette, establish a body to be known as the Central Electricity Regulatory Commission to exercise the powers conferred on, and the functions assigned to, it under this Act. (2) The Central Commission shall be a body corporate by the name aforesaid, having perpetual succession and a common seal with power to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the said name, sue or be sued. (3) The head office of the Central Commission shall be at such place as the Central Government may, by notification in the Official Gazette, specify. (4) The Central Commission shall consist of the following Members, namely:- (a).....

Finance (No. 2) Act, 1998 Chapter V

Title: Indirect Taxes

State: Central

Year: 1998

.....unless the context otherwise requires,-- (a) "Bench" means a Bench of the Settlement Commission; (b) "case" means any proceeding under this Act or any other Act for the levy, assessment and collection of customs duty, or any preceding by way of appeal or revision in connection with such levy, assessment or collection, which may be pending before a proper officer or the Central Government on the date on which an application under sub-section (1) of section 127B is made: Provided that where any appeal or application for revision has been preferred after the expiry of the period specified for the filing of such appeal or application of. revision under this Act and which has not been admitted, such appeal or revision shall be deemed to be a proceeding pending within the meaning of this clause; (c) "Chairman" means the Chairman of the Settlement Commission; (d) "Commissioner (Investigation)" means an officer of the customs or a Central Excise Officer appointed as such Commissioner to conduct inquiry or investigation for the purposes of this Chapter; (e) "Member" means a Member of the Settlement Commission and includes the Chairman and the Vice-Chairman; (f).....