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of <h1>Central Government Can Adjust Excise Duty Rates Under Section 3B of Central Excise Act, 1944; Requires Parliamentary Approval</h1> Section 3B of the Central Excise Act, 1944 grants the Central Government emergency powers to increase the duty of excise on goods. If deemed necessary, the government can amend the Fourth Schedule via notification in the Official Gazette to adjust duty rates. If the current rate is nil, it can impose a duty up to 50% ad valorem. Otherwise, it can double the existing rate. Notifications must be presented to Parliament for approval within a specified timeframe. The government can rescind such notifications at any time. This provision was inserted by the Taxation Laws (Amendment) Act, 2017.
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