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of <h1>India Hikes Excise Duty from 1% to 2% on Select Goods, Updates Notification No. 1/2011-Central Excise</h1> The Government of India, through the Ministry of Finance, has issued Notification No. 16/2012-Central Excise, amending Notification No. 1/2011-Central Excise. This amendment increases the duty rate from 1% to 2% ad valorem. It also omits certain serial numbers and entries in the notification's table, updates the entry for spectacle lenses, and adds a new entry for parts, components, and accessories of mobile handsets, including battery chargers, PC connectivity cables, memory cards, and hands-free headphones. This change is made under the powers conferred by the Central Excise Act, 1944, in the public interest.
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