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of <h1>Finance Act 2001 Updates Excise Duty Rates: Tobacco Products at 18%, Fabrics Vary from 0% to 18%.</h1> The Finance Act, 2001, under the Sixth Schedule, amends the Additional Duties of Excise (Goods of Special Importance) Act. In Part I, it revises the excise duty rates for specific goods, setting an 18% duty for certain tobacco products and an 8% duty for specific fabric categories. Part II further details these changes, listing the new excise rates for sub-headings related to chewing tobacco, pan masala, denim fabrics, and various processed and unprocessed woven fabrics, with rates ranging from 0% to 18% depending on the product type and processing.
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