Reduces peak rate to excise duty (Cenvat) from 16% to 14% w.e.f. 1-3-2008, 14% to 10% w.e.f. 7-12-2008 and 10% to 8% w.e.f. 24-2-2009 except few items, 8% to 10% w.e.f. 27-2-2010 - 02/2008 - Central Excise - Tariff

Ministry of Finance Announces Excise Duty Reductions and Subsequent Increases Under Central Excise Act, 1944

The notification issued by the Ministry of Finance, Government of India, outlines a series of reductions in the peak rate of excise duty (Cenvat) on various goods. The rates were reduced from 16% to 14% effective March 1, 2008, then to 10% on December 7, 2008, and further to 8% on February 24, 2009, with some exceptions. However, the rate was increased back to 10% on February 27, 2010. These changes were made under the Central Excise Act, 1944, and specified in the Central Excise Tariff Act, 1985. The notification was later rescinded on March 17, 2012.