Excise duty rates specified in statutory schedules govern the levy mechanism under the central excise framework for taxable goods. Section 2 establishes that the rates of excise duty are set out in the First and Second Schedules and that those scheduled rates constitute the basis for levy under the central excise regime, linking specified rates to the mechanism for imposing duties on goods as the primary source for calculating excise liabilities.
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Provisions expressly mentioned in the judgment/order text.
Excise duty rates specified in statutory schedules govern the levy mechanism under the central excise framework for taxable goods.
Section 2 establishes that the rates of excise duty are set out in the First and Second Schedules and that those scheduled rates constitute the basis for levy under the central excise regime, linking specified rates to the mechanism for imposing duties on goods as the primary source for calculating excise liabilities.
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