(1)  Subject to the provisions of this section, the Central Government may, by notification, —

   (a)  amend the First Schedule;

   (b)  amend the Second Schedule or the Third Schedule:

   Provided that penalty or civil penalty specified in such Schedules shall be not exceeding ten crore rupees.

   (2)  Any amendment made under sub-section (1) shall have effect as if enacted in this Act and shall come into force on the date of the notification, unless the notification otherwise directs.