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of <h1>Finance Bill 2014: Changes to Customs and Excise Duties, Renaming Commission, Revised Appeals Procedures Effective July 11.</h1> The Finance (No.2) Bill, 2014 introduces changes in Customs and Central Excise laws and duty rates, effective from July 11, 2014. Key amendments include adjustments in duty rates for various commodities, such as reducing customs duty on certain raw materials and increasing duties on products like cigarettes and tobacco. The Bill also proposes legislative amendments, such as renaming the Customs and Central Excise Settlement Commission and revising procedures for filing appeals. Notifications detail these changes, which aim to streamline processes and ensure compliance. Stakeholders are advised to study the provisions carefully and provide feedback for clarification.
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