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of <h1>Government Waives Excise Duty on U-matic and Betacam Cassettes for Specific Periods Per Notification No. 40/2002-Central Excise (N.T.)</h1> The Central Government issued Notification No. 40/2002-Central Excise (N.T.) on November 21, 2002, addressing the excise duty on recorded video cassettes in U-matic and Betacam formats intended for television broadcasting. It was recognized that a prevalent practice resulted in the non-levy of excise duty on these cassettes during specific periods: from March 1, 1993, to June 1, 1998, for U-matic cassettes, and from March 1, 1997, to June 1, 1998, for Betacam cassettes. The government has directed that the excise duty not levied during these periods will not be required to be paid.
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