Finance Bill 2017: Customs and Excise Duty Changes on Cashew Nuts, Aluminum, LNG, and Tobacco Products.

The Finance Bill, 2017, introduced changes to Customs and Central Excise laws, including duty rate adjustments effective from February 1, 2017. Key updates include increased customs duty on cashew nuts and aluminum ores, reduced duty on liquefied natural gas, and various goods for manufacturing purposes. Excise duty changes affect tobacco products, with increased rates on cigarettes and other tobacco items. Legislative amendments include adjustments to the Customs Act, 1962, and the Central Excise Act, 1944, addressing procedural and definitional aspects. The document emphasizes smooth implementation and encourages feedback for clarification.