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of <h1>India Revises Excise Duty to 12.5% on Specific Motor Vehicles Under Notification No. 02/2017-Central Excise.</h1> The Government of India, through the Ministry of Finance, has issued Notification No. 02/2017-Central Excise to amend Notification No. 12/2012-Central Excise dated March 17, 2012. This amendment prescribes an excise duty rate of 12.5% on motor vehicles classified under headings 8702 90 21, 8702 90 22, 8702 90 28, and 8702 90 29 in the First Schedule of the Central Excise Tariff Act, 1985. The amendment is enacted under the powers conferred by the Central Excise Act, 1944, and is deemed necessary in the public interest.
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