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of <h1>Finance Act 1975: Revised Excise Duties on Tobacco, Fibers, Wireless Sets, and More; New Item Definitions Added</h1> The Second Schedule of the Finance Act, 1975, amends various items in the First Schedule to the Central Excises Act. It revises duty rates and descriptions for several goods, including tobacco, fibers, yarn, wireless receiving sets, and wool tops. Specific changes include adjustments in ad valorem rates and specific duty amounts per item, such as thirty-seven and a half percent ad valorem for certain excise items and new definitions for terms like 'skelp' and 'Textured Yarn.' New items like graphite electrodes and anodes are introduced with a fifteen percent ad valorem duty, and a one percent ad valorem duty is applied to unspecified manufactured goods.
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