Ad valorem rate amendment raises the applicable exemption for watches under the existing tariff notification, altering prior tariff terms. The Central Government, invoking the powers under sub section (1) of section 5A of the Central Excises and Salt Act, 1944, amends Notification No. 72/86 Central Excises by substituting the ad valorem rate entry in column (4) against the specified serial entry for watches in the annexed Table, thereby changing the previously prescribed ad valorem percentage for the Chapter 91 item, by notification dated 1 3 1992.
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Ad valorem rate amendment raises the applicable exemption for watches under the existing tariff notification, altering prior tariff terms.
The Central Government, invoking the powers under sub section (1) of section 5A of the Central Excises and Salt Act, 1944, amends Notification No. 72/86 Central Excises by substituting the ad valorem rate entry in column (4) against the specified serial entry for watches in the annexed Table, thereby changing the previously prescribed ad valorem percentage for the Chapter 91 item, by notification dated 1 3 1992.
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