Excise duty cap on specified tariff goods limits effective excise liability to a fixed ad valorem rate under exemption. The Central Government, invoking its powers under the Central Excises and Salt Act, exempts goods classified under specified tariff headings from so much of the scheduled excise duty as exceeds a prescribed ad valorem rate, thus capping the effective excise liability on those tariff items at that ad valorem rate.
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Excise duty cap on specified tariff goods limits effective excise liability to a fixed ad valorem rate under exemption.
The Central Government, invoking its powers under the Central Excises and Salt Act, exempts goods classified under specified tariff headings from so much of the scheduled excise duty as exceeds a prescribed ad valorem rate, thus capping the effective excise liability on those tariff items at that ad valorem rate.
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