Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>2001-2002 Budget: Unified 16% Excise Duty, New Tobacco Tax, Expanded Service Tax, Simplified Customs & Excise Rules.</h1> The budget proposals for 2001-2002 introduce significant changes in excise, customs, and service tax. Excise duties are streamlined with a unified rate of 16% for most items, while a new National Calamity Contingent Duty is imposed on tobacco products. The excise duty on branded garments is set at 16%, and SSI exemptions are withdrawn for certain items. Service tax is extended to 14 new service categories, with self-assessment introduced. Customs duty sees a reduction in gold duty and a flat rate for baggage. Legislative changes include interest on unpaid duties and time limits for adjudication processes. New Central Excise Rules are proposed to replace outdated regulations, emphasizing simplicity and transparency.
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