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of <h1>Ministry of Finance clarifies excise duty: Blank cassette tapes now under sub-heading 8523.00, duty only at one stage.</h1> The circular from the Ministry of Finance addresses the classification and excise duty implications for blank cassette tapes used for sound recording. Previously, under the tariff before February 28, 1986, cassette tapes for sound recording were classified separately, resulting in additional duty when made from duty-paid unrecorded media. However, the updated tariff consolidates these under sub-heading 8523.00, eliminating the need for further excise duty on blank cassettes made from duty-paid prepared un-recorded media. The Board concludes that excise duty is only applicable at one stage under the new classification.
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