Excise duty definitions clarified: amendments specify basic excise duty, road and infrastructure cess, and special additional excise duty. Amendments define three core excise components-Basic Excise Duty as set out in the Fourth Schedule, Road and Infrastructure Cess as the additional excise ... Summary
Excise duty definitions clarified: amendments specify basic excise duty, road and infrastructure cess, and special additional excise duty.
Amendments define three core excise components-Basic Excise Duty as set out in the Fourth Schedule, Road and Infrastructure Cess as the additional excise introduced by the Finance Act 2018, and Special Additional Excise Duty as the levy created by the Finance Act 2002-and provide that changes effected by the Finance (No. 2) Bill, 2019 take effect on enactment unless otherwise specified.
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