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Provisional collection of taxex act,1931

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Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2012 when finance bill is introduced in parliament , then if there is any increase in rate of excise, then it will be in effect from next day.
My question is that if later i.e on passing the finance bill if increase in excise rate is come to withdraw, then excise duty collected at provisional basis due to Provisional Collection of taxes act, 1931 will be refunded or not?

what is provision there?

U S Sharma

U S Sharma (Expert)
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24 September 2012 https://www.cbec.gov.in/excise/cx-circulars/cx-circulars-97/288-97-cx.htm

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2012 Dear Sir, I m not talking about PROVISIONAL ASSESSMENT. I am talking about Provisional Collection of Taxes Act, 1931. on that basis if there is any changes in excise duty rate in budget then it is applicable from next day due to this act bcz finance bill not passed.
So my question is that if later when finance bill becomes to act and that time this increased rate withdrawn. then what will be happened?

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