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of <h1>India Updates Excise Notification: 'Free Trade Zone' Now 'Special Economic Zone' in Notification No. 24/2016.</h1> The Government of India, through the Ministry of Finance, has issued Notification No. 24/2016 - Central Excise, amending Notification No. 214/86-Central Excises dated March 25, 1986. The amendment replaces the term 'free trade zone' with 'Special Economic Zone' in the original notification. This change is made under the authority of the Central Excise Act, 1944, the Additional Duties of Excise Act, 1957, and the Finance Act, 2001, as the government deems it necessary in the public interest. The principal notification was last amended on December 30, 2006.
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