Retrospective excise rate reduction: duty for specified motor vehicle tariff items reduced, effective from early 2017. Section 120 substitutes the entry '12.5%' for '27%' in column (4) of the First Schedule, Chapter 87, against tariff items 8702 90 21, 8702 90 22, 8702 90 28 and 8702 90 29 in the Central Excise Tariff Act, and declares that this substitution is deemed to have been made retrospectively with effect from 1 January 2017.