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of <h1>Finance Act 1969 Updates Excise Duties on Cotton, Silk, Woollen, and Rayon Fabrics; Revises Rates and Structures</h1> The Finance Act of 1969 amends the Additional Duties of Excise (Goods of Special Importance) Act, 1957, specifically in the First Schedule. The amendment revises excise duties on various fabrics. For cotton fabrics, a new structure is introduced, with specific rates based on fabric type and quality, ranging from 2.5% ad valorem to specific paise per square meter. Silk, woollen, and rayon or artificial silk fabrics also see revised duties, with distinctions between plain fabrics and those with embroidery or special coatings. The amendments aim to standardize and update the excise duties applicable to these textile categories.
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