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of <h1>Finance Act 1982 Amends Excise Duty Calculation Retroactively to 1975; Validates Past Collections and Adjustments.</h1> Section 47 of the Finance Act, 1982, amends Section 4 of the Central Excises Act to include an explanation regarding the calculation of excise duty on goods. The amendment specifies that the duty includes both the effective duty under the Central Excises Act and any aggregate duties under other Central Acts, considering any applicable exemptions. This amendment is retroactively effective from October 1, 1975. Actions taken under the Central Excises Act during October 1, 1975, to February 27, 1982, are validated, ensuring duties collected during this period remain valid. Refunds or recoveries are adjusted based on the amendment's retroactive application.
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