New Delhi, Mar 27 (KNS) ; The Central Government has revised the excise duty framework under the Central Excise Act, 1944, and the Finance Act, 2002, notifying changes that will take effect immediately.
In a notification issued in the Gazette of India, the government said the amendments have been made in public interest. As per the revised structure, excise duty has been set at Rs 3 per litre against Sl. No. 1 in the earlier table, while the entry against Sl.
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The notification also clarified that the amendments will not apply to goods cleared for export.
The changes are aimed at regulating taxation while balancing public interest objectives, and are expected to have an impact on domestic excise collections and trade regulations the notification further reads. (KNS)