Peak excise duty cap limits excess central excise liability for listed tariff items to specified reduced rates. Exempts goods specified by chapter, heading, sub heading or tariff item in the First Schedule to the Central Excise Tariff Act, 1985 from excise duty insofar as such duty exceeds the amount calculated at the rates set out in the Table, which prescribes peak ad valorem rates (predominantly 12%, with specified entries at lower or higher peak rates and limited entries combining an ad valorem rate with a specific per litre component); effective from publication in the Official Gazette.