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of <h1>Finance Act 1963 Updates Excise Duties on Medicinal Preparations, Adds New Rates for Ayurvedic Products and Alcohol Content</h1> The Finance Act of 1963 amends the Medicinal and Toilet Preparations (Excise Duties) Act, 1955. Changes include revising the rate of duty for Item No. 1 to 'Rupee one and ten naye paise per litre' or 'ten percent ad valorem,' whichever is higher. Item No. 2 removes certain descriptions and adds 'or ten percent ad valorem' to the duty rate. A new sub-item for Ayurvedic preparations containing alcohol is added under Item No. 3, with a duty rate of 'Rupees fifteen and fifty naye paise per litre.' For Item No. 6, the duty rate is updated to 'Rupees three and eighty-five naye paise per litre' or 'twenty-five percent ad valorem,' whichever is higher.
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