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of <h1>Finance Act 2001: Amends Central Excise Tariff Act, Redefines Terms, Adjusts Duty Rates, Standardizes 16% Duty on Key Products.</h1> The Fourth Schedule of the Finance Act, 2001, amends the Central Excise Tariff Act by redefining certain terms and adjusting duty rates. It clarifies definitions for 'Pan masala' and 'Pan masala containing tobacco,' introduces 'manufacture' definitions for natural gas and motor vehicle bodies, and specifies 'brand name' and 'manufacture' for textile products. The schedule also standardizes a 16% duty rate across various sub-headings, including chewing tobacco, denim fabrics, and other woven fabrics. These changes aim to streamline tax rates and clarify manufacturing definitions for excise purposes.
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