Amendment to excise duty rates updates tariff entries and replaces column four rates across specified goods categories. The Finance (No. 2) Act, 1996 amends the First Schedule to the Additional Duties of Excise Act by substituting new entries in column (4) for numerous headings and sub headings: prescribing specific duties per unit, ad valorem rates (commonly 5% or 10%), or Nil for listed textile, yarn, lace and tobacco categories, and rewording the lace description for the relevant heading, thereby altering the additional duty applicable to each specified tariff item.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Amendment to excise duty rates updates tariff entries and replaces column four rates across specified goods categories.
The Finance (No. 2) Act, 1996 amends the First Schedule to the Additional Duties of Excise Act by substituting new entries in column (4) for numerous headings and sub headings: prescribing specific duties per unit, ad valorem rates (commonly 5% or 10%), or Nil for listed textile, yarn, lace and tobacco categories, and rewording the lace description for the relevant heading, thereby altering the additional duty applicable to each specified tariff item.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
