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[Cites 0, Cited by 0] [Section 31] [Entire Act]

Union of India - Subsection

Section 31(3) in The Oil Industry (Development) Act, 1974

(3)Every rule made by the Central Government under this section shall be laid, as soon as may be after it is made, 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 rule or both Houses agree that the rule should not be made, the rule 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 rule.THE SCHEDULE[See section 15 (1)]
Sl.No. Name of Item The maximum rate at which duty of excise may be collected
1 2 3
1. Crude Oil................................... [Rupees one thousand per tonne.] [Substituted by Act 20 of 1987, Section 160, for " Rupees one thousand per tonne" (w.e.f. 11.5.2003).]
2. Natural Gas................................ [Rupees three hundred per thousand cubic meters.] [Substituted by Act 11 of 1987, Section 106, for " Rupees fifty thousand per cubic meters" .]