Excise exemption rates set as ad valorem bands for specified goods, subject to prohibition on CENVAT credit. Exempts specified excisable goods under the First Schedule to the Central Excise Tariff Act by limiting duty to effective ad valorem rates of 4% or 8% as listed, conditional on no CENVAT credit being taken on inputs or capital goods and on payment of duty in cash or through an account current; defines 'retail sale price' and specifies that the rates are ad valorem unless otherwise stated. The Table lists tariff headings and a List enumerates medical equipment subject to the reduced rate, with waste and scrap from listed manufacture attracting nil rate.