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of <h1>Finance Act 2000 Updates Excise Duties: Allopathic Medicines 20%, Ayurvedic 4%-6%, Homeopathic 4%, Toiletries 50%</h1> The Sixth Schedule of the Finance Act, 2000, amends the Medicinal and Toilet Preparations (Excise Duties) Act, 1955. It specifies excise duty rates for various medicinal and toilet preparations. Allopathic medicinal preparations containing alcohol or narcotics are taxed at 20% ad valorem, while Ayurvedic and other indigenous preparations with alcohol are taxed at 4% or 6%. Homoeopathic preparations with alcohol are taxed at 4%, and toilet preparations with alcohol or narcotics are taxed at 50%. The schedule also defines 'patent or proprietary medicines' and provides guidelines for determining the value of goods for taxation purposes, considering retail prices and potential abatements.
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