AMENDMENTS IN THE FIRST SCHEDULE TO THE CENTRAL EXCISE TARIFF ACT, 1985

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Question - What are proposed amendments in the First Schedule to the Central Excise Tariff Act, 1985 ?

AI Summary

Amendments to Central Excise Tariff Act, 1985: Duty Changes on Goods, Education Cess Removed, GST Prep Highlighted The discussion outlines amendments to the Central Excise Tariff Act, 1985, focusing on changes in excise duties across various sectors. Key amendments include the exemption of Education Cess and Secondary and Higher Education Cess on excisable goods, with an increase in the standard ad valorem rate of duty from 12% to 12.5%. Excise duties on specific items like cigarettes, mineral waters, and high-speed diesel are increased, while certain goods in the food processing and electronics sectors see reduced duties. The amendments aim to streamline duties in preparation for GST implementation and enhance ease of doing business.