Tariff amendments: comprehensive substitution of excise duty rates and revised classification and manufacture definitions across the tariff. The Fourth Schedule to the Finance Act, 1995 effects comprehensive amendments to the Central Excise Tariff by substituting duty entries across numerous ... Summary
Tariff amendments: comprehensive substitution of excise duty rates and revised classification and manufacture definitions across the tariff.
The Fourth Schedule to the Finance Act, 1995 effects comprehensive amendments to the Central Excise Tariff by substituting duty entries across numerous chapters and sub headings, inserting and renumbering NOTES, and replacing heading entries. It both changes rates (ad valorem and specified duties, including Nil entries) and clarifies classification and manufacture rules by defining terms (for example, Pan Masala, supari, Sharbat) and treating certain acts (labelling, repacking, finishing, breaking up of ships) as "manufacture" for tariff application.
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