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<h1>Excise Duty on Medicinal and Toilet Preparations Revised to 50% Ad Valorem Under Finance Act Amendment</h1> The Finance (No. 2) Act, 1998, amends the Medicinal and Toilet Preparations (Excise Duties) Act, 1955. Specifically, in the Schedule of the 1955 Act, item No. 4 is revised to replace the existing entry in the third column with 'fifty percent ad valorem.' This change impacts the excise duty applicable to certain medicinal and toilet preparations, adjusting the rate to fifty percent of the value of the goods.