[Act No.14 of 1980]
[25th March, 1980.]
An Act to provide for the payment out of the Consolidated Fund of India of sums equivalent to the net proceeds of Union duties of excise on electricity to the States to which the law imposing the duty extends and for the distribution of those sums among those States in accordance with the recommendations of the Finance Commission in its [ interim report dated the 14th day of November, 1983.] Subs. by Act No.28 of 1984, S.2 [ w.e.f.1.4.1984].
Be it enacted by Parliament in the Thirty-fifth Year of the Republic of India as follows :-
In this Act, the expression “distributable Union duties of excise on electricity” means the net proceeds of Union duties of excise on electricity levied and collected, other than in Union territories, under the Central Excises and Salt Act, 1944(1 of 1944) and any other law for the levy and collection of such duty, unless the law earmarks the proceeds of the duty for any special purposes.
Explanation. The expression “net proceeds” has the same meaning as in clause (1) of article 279 of the Constitution.
4. Payment to be charged on the Consolidated Fund of India .
The expenditure on the payments in pursuance of sections 3 shall be charged on the Consolidated Fund of India.
5. Power to make rules.
(1) The Central Government may, by notification in the Official Gazette, make rules providing for the time at which and the manner in which, any payments under this Act are to be made, for the making of adjustments between one financial year and another and for any other incidental or ancillary matters.
(2) Every rules made 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.