Minimum excise rate lowered, reducing the statutory floor for applicable central excise duty under amended law. The amendment substitutes the prior wording setting the statutory minimum excise rate threshold with a lower threshold in section 11BB, thereby altering ... Summary
Minimum excise rate lowered, reducing the statutory floor for applicable central excise duty under amended law.
The amendment substitutes the prior wording setting the statutory minimum excise rate threshold with a lower threshold in section 11BB, thereby altering the baseline duty parameter that governs excise applicability. It effects a direct textual replacement of the existing phrase with the new phrase establishing the reduced minimum rate, without adding new procedural conditions or exemptions.
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