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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Section 162 of Finance Act, 2016: 4% Tax on Goods Under Heading 8703 of Central Excise Tariff Act, 1985.</h1> The Eleventh Schedule, referenced in Section 162 of the Finance Act, 2016, outlines taxation rates for specific goods. It specifies that all goods classified under heading 8703 of the First Schedule to the Central Excise Tariff Act, 1985, are subject to a tax rate of 4%.