Excise duty rate set as higher of ad valorem or per litre alcohol charge under amended schedule. The amendment substitutes the third column entry for Item No. 4 in the Schedule to the Medicinal and Toilet Preparations (Excise Duties) Act, 1955, so that the excise duty is the higher of a one hundred per cent ad valorem rate or a specified rupee amount per litre of pure alcohol content.
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Excise duty rate set as higher of ad valorem or per litre alcohol charge under amended schedule.
The amendment substitutes the third column entry for Item No. 4 in the Schedule to the Medicinal and Toilet Preparations (Excise Duties) Act, 1955, so that the excise duty is the higher of a one hundred per cent ad valorem rate or a specified rupee amount per litre of pure alcohol content.
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