Excise exemption limits central excise liability on specified medicinal goods by capping duty at a fixed ad valorem rate. Central Government exempts specified medicinal-grade chemicals and anaesthetics from that portion of central excise duty in excess of an ad valorem rate of 5%, identifying the affected goods by their Central Excise Tariff chapter headings and listing medicinal grade hydrogen peroxide, medicinal grade oxygen, and anaesthetics in the annexed Table.
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Provisions expressly mentioned in the judgment/order text.
Excise exemption limits central excise liability on specified medicinal goods by capping duty at a fixed ad valorem rate.
Central Government exempts specified medicinal-grade chemicals and anaesthetics from that portion of central excise duty in excess of an ad valorem rate of 5%, identifying the affected goods by their Central Excise Tariff chapter headings and listing medicinal grade hydrogen peroxide, medicinal grade oxygen, and anaesthetics in the annexed Table.
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