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of <h1>Finance Act 1963 Updates Excise Duties on Tobacco, Petroleum, and Steel Under Central Excises and Salt Act 1944</h1> The Finance Act of 1963 amends the Central Excises and Salt Act of 1944 by revising the excise duty rates on various items listed in the First Schedule. For unmanufactured and manufactured tobacco, new rates are introduced, ranging from one rupee and sixty naye paise to thirty-four rupees. The amendment also adjusts excise duties on items like petroleum products, paints, and steel, with specific rates per kilolitre, metric tonne, or quintal. Additionally, certain descriptive terms related to paint sales are omitted, and a new sub-item for semi-finished steel is added with a specified duty rate.
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