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of <h1>Central Government Updates Excise Rules: New Central Excise Rules, 2002 Effective March 1, Replacing 2001 Version</h1> The Central Government, exercising powers under the Central Excise Act, 1944, has replaced the Central Excise (No. 2) Rules, 2001 with the Central Excise Rules, 2002, effective March 1, 2002. These rules apply across India and cover definitions, officer appointments, duty payments, assessments, registration, and procedural requirements for excisable goods. Key provisions include self-assessment of duty, provisional assessments, payment schedules, and conditions for duty exemptions. The rules also address compliance, penalties for violations, and procedures for export and warehousing. Existing notifications under the 2001 rules remain valid if consistent with the new rules.
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