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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Finance Act 2016 updates excise tariffs: New items under headings 3401, 3402; smart watches included under 7607, 8517 62.</h1> The Fifth Schedule of the Finance Act, 2016, amends the Third Schedule of the Central Excise Act by altering and adding specific tariff items and descriptions. It replaces entries for S. Nos. 40 and 41 with new descriptions under headings 3401 and 3402 for all goods. It introduces new entries for S. Nos. 63A and 81D, covering goods under headings 7607 and 8517 62, specifically including smart watches. Additionally, it modifies the descriptions for S. Nos. 100 and 100A to include 'accessories' alongside 'parts, components, and assemblies.'