Finance Act 1967 Updates Excise Duties: Tobacco, Rubber Products, and More Adjusted in Central Excises and Salt Act 1944
The Finance (No. 2) Act, 1967 amends the Central Excises and Salt Act, 1944, adjusting excise duties on various items in the First Schedule. Key changes include setting specific rates for items such as manufactured tobacco, rubber products, and other goods. For instance, the duty for manufactured tobacco is revised to specified amounts for different sub-items, and rubber products are assigned ad valorem rates ranging from fifteen to twenty percent. Additionally, amendments specify new rates per kilogram or metric tonne for various items, reflecting updated tax rates and valuation methods.
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