Excise duty on medicinal preparations set by alcohol content and preparation type, distinguishing patent, indigenous and homoeopathic products.

The substituted Fourth Schedule prescribes excise duty rates for medicinal and toilet preparations based on system of medicine, alcohol presence and source, capacity for beverage consumption, and narcotic content; it specifies distinct ad valorem or volumetric rates for allopathic, indigenous, homoeopathic and toilet preparations and includes explanations defining "patent or proprietary medicines", valuation rules for ad valorem duties and the meaning of "pure alcohol content" for volumetric assessment.

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