Excise exemption for watches and components clarified; specified categories attract nil or ad valorem duty rates. Exemption limits excise duty on specified watches, time-pieces and components by fixing rates: nil duty for Braille watches and one-day alarm time-pieces, and one per cent ad valorem for watches primarily designed to show the time of day and for watch components, under the authority of rule 8(1) of the Central Excise Rules, 1944.
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Excise exemption for watches and components clarified; specified categories attract nil or ad valorem duty rates.
Exemption limits excise duty on specified watches, time-pieces and components by fixing rates: nil duty for Braille watches and one-day alarm time-pieces, and one per cent ad valorem for watches primarily designed to show the time of day and for watch components, under the authority of rule 8(1) of the Central Excise Rules, 1944.
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