Finance Act 1964 Updates Excise Tax Rates, Redefines "Manufacturer" in Central Excises and Salt Act 1944.
The Finance Act of 1964 amends the Central Excises and Salt Act, 1944, by modifying definitions and tax rates for various goods. Key changes include redefining "manufacturer" to encompass those involved in specific textile processes. The First Schedule sees updates in tax rates for manufactured tobacco, pigments, sodium silicate, skin care preparations, soaps, resins, plastics, paper products, cotton yarn, iron, steel, and footwear. New items and explanations are inserted, adjusting the excise duties and clarifying definitions, such as "count" for yarn and "footwear" for tax purposes. These amendments aim to refine tax impositions on a range of goods.
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