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of <h1>Government Lowers Tariff Value on Branded Garments from 60% to 45% of Retail Price; Changes in Excise Duty Calculation</h1> The Central Government has amended the Central Excise notification to reduce the tariff value on branded readymade garments from 60% to 45% of the retail sale price. Additionally, when goods with another person's brand name are sold by a manufacturer to the brand owner without a retail sale price affixed, the transaction value will be considered the tariff value. This adjustment affects the calculation of excise duty, which will be based on the transaction value as defined under section 4 of the Central Excise Act, 1944.
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