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of <h1>Finance Act 1987 Updates Excise Duty Rates and Classifications: Key Changes in Dairy, Spices, Oils, and Textiles.</h1> The Finance Act, 1987, amends various tariff rates and classifications in the Central Excise Tariff Act. Key changes include adjustments to duty rates for specific goods across multiple chapters, such as dairy, spices, oils, and textiles. For instance, Chapter 4 sees a change to a 20% duty, while Chapter 9 adjusts to 15%. Other notable changes include specific rates per kilogram or tonne for certain goods, and the introduction of new sub-headings for products like cut-tobacco and fabrics. Additionally, certain goods are reclassified or have their duty rates revised, reflecting updated taxation policies.
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