Oil Industry (Development) Act : Crediting of proceeds of duty to Consolidated Fund of India. Indian

Oil Industry (Development) Act,1974

Act No : 47

Section : Crediting of proceeds of duty to Consolidated Fund of India.

16. Crediting of proceeds of duty to Consolidated Fund of India. The proceeds of the duties of excise levied under section 15 shall first be credited to the Consolidated Fund of India and the Central Government may, if Parliament by appropriation made by law in this behalf, so provides, pay to the Board from time to time, from out of such proceeds, after deducting the expenses of collection, such sums of money as it may think fit for being utilised exclusively for the purposes of this Act.