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of <h1>Finance Bill 2011: Amendments to Central Excise Tariff Act, Updating Schedules, Rates, and Definitions in Clause 70</h1> Clause 70 of the Finance Bill, 2011 proposes amendments to the Central Excise Tariff Act's First and Third Schedules. It aims to update the First Schedule by inserting new headings and tariff items, adjusting tariff rates for various goods, and defining certain processes as 'manufacture' across multiple chapters. Additionally, it aligns the First Schedule with international standards effective January 1, 2012, and retrospectively includes specified goods for excise duty under section 4A in the Third Schedule. These changes are detailed in the Tenth, Eleventh, and Twelfth Schedules of the Bill.
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