Finance Act, 1960
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Tobacco. |
19.—(1) In this section— | |
“the Act of 1934” means the Finance Act, 1934 ; | ||
“the Act of 1957” means the Finance Act, 1957 ; | ||
“the Act of 1959” means the Finance Act, 1959. | ||
(2) The duty of customs on tobacco imposed by section 20 of the Finance Act, 1932 shall, as on and from the 28th day of April, 1960, be charged, levied and paid at the several rates specified in Part I of the First Schedule to this Act in lieu of the several rates at which the said duty is now chargeable by virtue of section 7 of the Act of 1957 on manufactured tobacco and by virtue of section 11 of the Act of 1959 on unmanufactured tobacco. | ||
(3) The duty of excise on tobacco imposed by section 19 of the Act of 1934 shall, as on and from the 28th day of April, 1960, be charged, levied and paid at the several rates specified in Part II of the First Schedule to this Act in lieu of the several rates at which the said duty is now chargeable by virtue of section 7 of the Act of 1957 on manufactured tobacco and by virtue of section 11 of the Act of 1959 on unmanufactured tobacco. | ||
(4) Subsections (3) and (4) of the said section 19 of the Act of 1934 shall apply to tobacco which is chargeable with the duty of excise imposed by subsection (1) of the said section 19 at a rate specified in Part II of the First Schedule to this Act, and for the purpose of such application the reference in the said subsection (3) to the Sixth Schedule to the said Act of 1934 shall be construed and have effect as a reference to Part II of the First Schedule to this Act. | ||
(5) The rebate on hard pressed tobacco mentioned in subsection (2) of section 17 of the Finance Act, 1940 , shall, in respect of any such tobacco sold and sent out for use within the State by any licensed manufacturer on or after the 28th day of April, 1960, be at the rate of thirteen shillings and one penny per pound. | ||
(6) As respects unmanufactured tobacco which, apart from this subsection, would be entitled by virtue of subsection (3) of section 11 of the Act of 1959 to the preferential rates of customs duties specified in Part III of the Third Schedule to that Act, the duty of customs chargeable thereon on delivery from bonded warehouse shall, on and from the 28th day of April, 1960, be charged, levied and paid at the rates for unmanufactured tobacco specified in Part III of the First Schedule to this Act. |