Excise duty cap on petroleum jelly limits levy to a specified ad valorem rate under central excise rules. Central Government exempts petroleum jelly under the relevant tariff sub-heading from so much of the excise duty specified in the tariff schedule as exceeds the amount calculated at a specified ad valorem rate, thereby capping the effective excise liability for that product under powers conferred by the Central Excise Rules.
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Excise duty cap on petroleum jelly limits levy to a specified ad valorem rate under central excise rules.
Central Government exempts petroleum jelly under the relevant tariff sub-heading from so much of the excise duty specified in the tariff schedule as exceeds the amount calculated at a specified ad valorem rate, thereby capping the effective excise liability for that product under powers conferred by the Central Excise Rules.
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