Research & Development Cess Act, 1986 alongwith Rules, 1996

This compact, authoritative edition presents the full text of the Research & Development Cess Act, 1986 together with the Research & Development Cess Rules, 1996, plus practitioner-focused editorial notes and official citations. The Act originally imposed a cess (levy) on certain payments for imported technology — defined to include know-how, drawings, designs and technical services — to credit a Fund for promoting technology development via the Technology Development Board and related agencies. The book explains the levy mechanism, collection responsibilities, return and remittance rules, exemptions and the intended use of the cess proceeds, and reproduces the Rules that operationalised the statute. Crucially, this edition also documents and annotates the repeal of the Act by the Finance Act, 2017 (effective 1 April 2017) and outlines the practical and policy consequences of abolition for historical liabilities and corporate compliance. Indexed, footnoted and suitable for archival, academic and compliance use, the volume is valuable to tax practitioners, corporate counsel, policy researchers and libraries requiring a complete statutory record of India’s R&D cess regime.