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of <h1>Finance Act 2021 introduces Agriculture Infrastructure Cess on specified goods; funds agricultural infrastructure and development.</h1> The Finance Act, 2021 introduces an Agriculture Infrastructure and Development Cess as an additional excise duty on specified goods listed in the Seventh Schedule. This cess aims to fund agricultural infrastructure and development expenses. The Central Government, following parliamentary appropriation, can allocate the collected funds for these purposes. This cess is in addition to existing excise duties under the Central Excise Act, 1944. The provisions of the Central Excise Act, including those on duty rates, assessments, and penalties, apply to the cess's levy and collection, as amended by the Finance (No. 2) Act, 2024.
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