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of <h1>Finance Act 2003 amends Section 4 of Central Excise Act to clarify 'price-cum-duty' and 'place of removal' definitions.</h1> The amendment to Section 4 of the Central Excise Act, introduced by the Finance Act, 2003, clarifies the definition of 'price-cum-duty' for excisable goods. It specifies that this price includes the actual payment made for the goods and any additional consideration from the buyer to the seller, excluding sales tax and other taxes. Additionally, it updates the definition of 'place of removal' to include depots, consignment agents' premises, or other locations from where goods are sold post-clearance. It also defines 'time of removal' as the moment goods are cleared from the factory.
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