Excise exemption for food products caps duty at an ad valorem rate while excluding malt extract products. The Central Government exempts food products classified under the Central Excise Tariff from excise duty to the extent that duty exceeds the amount calculated at the rate of fifteen per cent. ad valorem, thereby capping liability; the exemption expressly does not apply to malt extract or food preparations containing malt extract in any proportion.
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Provisions expressly mentioned in the judgment/order text.
Excise exemption for food products caps duty at an ad valorem rate while excluding malt extract products.
The Central Government exempts food products classified under the Central Excise Tariff from excise duty to the extent that duty exceeds the amount calculated at the rate of fifteen per cent. ad valorem, thereby capping liability; the exemption expressly does not apply to malt extract or food preparations containing malt extract in any proportion.
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