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of <h1>Finance Act 2020 Updates Tax Rates in Eighth Schedule: Item 1 to 18/Litre, Item 2 to 12/Litre</h1> The Finance Act, 2020 amends the Eighth Schedule of the Finance Act, 2002. Specifically, it modifies the entries in column (3) for certain items. For Item No. 1, the previous entry is replaced with '18 per litre,' and for Item No. 2, the entry is changed to '12 per litre.' These amendments pertain to taxation provisions within the Act.
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