Sr.No.

Changes

Effective Date

1

Peak rate of excise duty has been reduced from 16% to 14% vide notification no. 2/2008 CE dated 1-3-2008 (With certain exception) Strangely the peak rate has been reduced by way of notification and by amending the Tariff through Bill.

1-3-2008

2

For certain products duty of excise has either reduced or exempted fully. In certain cases, excise duty has been increased Excise duty of packaged software increased from 8% to 12% Areas based exemption (Uttrakhand and HP) has been extended to manufacturing of printers and monitots

1-3-2008

3

Duty of Excise payable by EOU on DTA clearance has been enhanced from 25% to 50% of duty of customs as per formula

1-3-2008

4

Benefit under SSI exemption scheme is being extended to strips of plastics intended for weaving of fabrics/sacks.

1-4-2008

5

Exemption for goods supplied to United Nations or an international organization under notification no. 108/95 has been restricted to actual use - temporary consumption shall not be eligible for exemption

1-3-2008

6

Rate of abatement - in case of MRP products - has been reduced

1-3-2008

7

Scope of Deemed Manufacturer has been enlarged:

Old

"packing or repacking of such goods in a unit container and  relabeling of containers"

New

"packing or repacking of such goods in a unit container or  relabeling of containers"

1-3-2008

8

Tariff value for retail packages of pan masala falling under 2106 90 20 & with betel nut content not exceeding 15%, on which MRP is mentioned, has been increased

1-3-2008

9

Central Excise (Determination of Retail Sale Price of Excisable Goods) Rules, 2008, have been issued so as to prescribe the manner of determination of the RSP, in cases where a manufacturer removes goods without declaring the RSP or alters, tampers or obliterates the same after removal from the place of manufacture.

1-3-2008