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of <h1>Central Government amends Rule 8 of Excise Valuation Rules, reducing valuation percentage from 115% to 110% under Section 37.</h1> The Central Government, exercising its authority under section 37 of the Central Excise Act, 1944, has amended the Central Excise Valuation (Determination of Price of Excisable Goods) Rules, 2000. Effective upon publication in the Official Gazette, the amendment changes the valuation percentage in Rule 8 from 'one hundred and fifteen percent' to 'one hundred and ten percent.' This modification is part of Notification No. 60/2003-CE(N.T.) dated 5th August 2003. The principal rules were initially published on 30th June 2000 and have been amended previously on 1st March 2003.
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