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<h1>Repeal and saving provisions preserve pre existing tax liabilities, assessments and legal proceedings despite repeal of excise laws.</h1> Section 174 repeals specified Central excise enactments but preserves accrued rights, obligations and liabilities and prevents revival of anything not in force at repeal. Tax exemptions by notification cease as privileges if rescinded on or after the appointed day. Duties, taxes, surcharges, penalties, interest, forfeitures and punishments remain recoverable and enforceable, and investigations, verifications, assessments, adjudications, appeals and recovery proceedings may be instituted or continued as if the repealed Acts had not been repealed. The provision also preserves the general operation of the General Clauses Act regarding repeal.