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of <h1>Excise Duty Rates: Classification and Assessment Rules Under Central Excise Tariff Act 1985, Including Section 4(1)(a) and Section 4A.</h1> Central Excise Duty rates are outlined in the Central Excise Tariff Act, 1985, with specific rates in the First Schedule and Special Excise Duty rates in the Second Schedule. Goods classification is crucial for determining applicable duty rates, with specific headings preferred over general ones. Exemptions may alter effective duty rates. When duty is ad valorem, the assessable value is based on transaction value as per Section 4(1)(a) of the Act, unless exceptions apply. For packaged goods, duty is assessed on Maximum Retail Price (MRP) per Section 4A. Certain goods are assessed on a tariff value set by the government under Section 3(2).
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