Section 2 of the Finance Act, 1962 is hereby repealed and shall be deemed never to have been enacted.
(See Section 2)
Part I
Income-tax and surcharges on income-tax
Paragraph A
(i) In the case of every individual who is married and every Hindu undivided family whose total income does not exceed Rs. 20,000 in either case
Rates of Income-tax
| Where the individual has no child wholly or mainly dependent on him or where the Hindu undivided family has no minor coparcener. |
Where the individual has one child wholly or mainly dependent on him or where the Hindu undivided family has one minor coparcener. |
Where the individual has more than one child wholly or mainly dependent on him or where the Hindu undivided family has more than one minor coparcener. |
| Rs. |
Rs. |
Rs. |
| (1) |
On the first |
3,000 of total income. |
3,300 of total income. |
3,600 of total income. |
Nil |
| (2) |
On the next |
2,000 |
|
1,700 |
|
1,400 |
|
3% |
| (3) |
On the next |
2,500 |
|
2,500 |
|
2,500 |
|
7% |
| (4) |
On the next |
2,500 |
|
2,500 |
|
2,500 |
|
10% |
| (5) |
On the next |
2,500 |
|
2,500 |
|
2,500 |
|
12% |
| (6) |
On the next |
2,500 |
|
2,500 |
|
2,500 |
|
15% |
| (7) |
On the next |
2,500 |
|
2,500 |
|
2,500 |
|
20% |
| (8) |
On the next |
2,500 |
|
2,500 |
|
2,500 |
|
23% |
(ii) In the case of every individual who is not married and every individual or Hindu undivided family whose total income in either case exceeds Rs. 20,000 and in the case of every unregistered firm or other association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part applies:
| |
|
Rs. |
|
| (1) |
On the first. . . . . . . . . . . . . . . . . . . . . . . . |
1,000 of total income. |
Nil |
| (2) |
On the next. . . . . . . . . . . . . . . . . . . . . . . . |
4,000 |
|
|
3% |
| (3) |
On the next. . . . . . . . . . . . . . . . . . . . . . . . |
2,500 |
|
|
7% |
| (4) |
On the next. . . . . . . . . . . . . . . . . . . . . . . . |
2,500 |
|
|
10% |
| (5) |
On the next. . . . . . . . . . . . . . . . . . . . . . . . |
2,500 |
|
|
12% |
| (6) |
On the next. . . . . . . . . . . . . . . . . . . . . . . . |
2,500 |
|
|
15% |
| (7) |
On the next. . . . . . . . . . . . . . . . . . . . . . . . |
2,500 |
|
|
20% |
| (8) |
On the next. . . . . . . . . . . . . . . . . . . . . . . . |
2,500 |
|
|
23% |
| (9) |
On the balance of total income. . . . . . . . . . . . . . . . . . . . . . . . . . . |
25% |
Provided that for the purposes of this Paragraph
(i) no income-tax shall be payable on a total income which does not exceed the limit specified below;
(ii) the income-tax payable shall in ho case exceed half the amount by which the total income exceeds the said limit;
(iii) the income-tax payable by an individual who is married or a Hindu undivided family whose total income exceeds in either case Rs. 20,000 shall not exceed the aggregate of
(a) the income-tax which would have been payable if the total income had been Rs. 20,000;
(b) half the amount by which the total income exceeds Rs. 20,000;
The limit aforesaid shall be
(i) Rs. 6,000 in the case of every Hindu undivided family which as at the end of the previous year satisfies either of the following conditions, namely:
(a) that it has at least two members entitled to claim partition who are not less than eighteen years of age; or
(b) that it has at least two members entitled to claim partition who are not lineally descended one from the other and who are not lineally descended from any other living member of the family;
(ii) Rs. 3,000 in every other case.
Surcharges on income-tax
The amount of income-tax computed at the rates hereinbefore specified shall be increased by the aggregate of the surcharges calculated as under:
(a) A surcharge for purposes of the Union equal to the sum of
(i) two and a half per cent. of the amount of income-tax calculated at the average rate of income-tax on the income under the head Salaries included in the total income;
(ii) five per cent. of the amount of income-tax calculated at the average rate of income-tax on the total income as reduced by the income under the head Salaries included therein; and
(iii) where the earned income included in the total income exceeds Rs. 1,00,000, ten per cent. of the difference between the amount of income-tax which would have been payable on the whole of the earned income included in the total income if such earned income had been the total income and the amount of income-tax payable on a total income of Rs. 1,00,000;
(b) A special surcharge at fifteen per cent. of the difference between the amount of income-tax on the total income and the amount of income-tax on the whole of the earned income, if any, included in the total income if such earned income had been the total income:
Provided that
(i) no surcharge for purposes of the Union shall be payable where the total income does not exceed the limit specified below;
(ii) no special surcharge shall be payable in the case of an assessee whose total income does not include any income from dividend on ordinary shares if his total income does not exceed the limit specified below, and where the total income includes any dividends on ordinary shares, such limit shall be increased by Rs. 1,500 or the amount of the said dividends, whichever is less:
Provided further that
(a) where the total income includes any dividends on ordinary shares, the surcharge for purposes of the Union and the special surcharge shall not in each case exceed half the amount by which the total income exceeds the respective limits applicable in either case;
(b) the surcharge for purposes of the Union and the special surcharge, both together, shall not exceed half the amount by which the total income exceeds the limit specified below;
The limit aforesaid shall be
(i) Rs. 15,000 in the case of every Hindu undivided family which satisfies as at the end of the previous year either of the following conditions, namely:
(a) that it has at least two members entitled to claim partition who are not less than eighteen years of age; or
(b) that it has at least two members entitled to claim partition who are not lineally descended one from the other and who are not lineally descended from any other living member of the family;
(ii) Rs. 7,500 in every other case.
Explanation. For the purposes of this Paragraph, in the case of every Hindu undivided family governed by the Mitakshara law, a son shall be deemed to be entitled to claim partition of the coparcenary property against his father, or grand-father notwithstanding any custom to the contrary.
Paragraph B
In the case of every local authority,
Rate of income-tax
On the whole of the total income. . 30%
Surcharge on income-tax
The amount of income-tax computed at the rate hereinbefore specified shall be increased by a surcharge for purposes of the Union of 5 per cent. of the amount of income-tax.
Paragraph C
In every case in which under the provisions of the Income-tax Act, income-tax is to be charged at the maximum rate,
Rate of income-tax
On the whole of the total income. . 25%
Surcharges on income-tax
The amount of income-tax computed at the rate hereinbefore specified shall be increased by the aggregate of the surcharges calculated as under:
(a) a surcharge for purposes of the Union of five per cent. of the amount of income-tax; and
(b) a special surcharge of fifteen per cent. of the amount of income-tax.
Paragraph D
In the case of every company,
Rate of income-tax
On the whole of the total income. . 25%
Paragraph E
In the case of every registered firm,
Rates of income-tax
| |
|
Where the firm has four or less partners |
Where the firm has five or more partners |
| (1) |
On the first Rs. 25,000 of total income |
Nil |
Nil |
| (2) |
On the next Rs. 15,000 of total income |
5% |
7% |
| (3) |
On the next Rs. 20,000 of total income |
6% |
8% |
| (4) |
On the next Rs. 40,000 of total income |
7% |
9% |
| (5) |
On the next Rs. 50,000 of total income |
8% |
10% |
| (6) |
On the balance of total income |
10% |
12% |
Part II
Super-tax and surcharges on super-tax
Paragraph A
In the case of every individual, Hindu undivided family, unregistered firm or other association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of Section 2 of the Income-tax Act, not being a case to which any other Paragraph of this Part applies,
Rates of super-tax
| (1) |
On the first Rs. 20,000 of total income. . . . . . . . . . . . . . . . |
Nil |
| (2) |
On the next Rs. 5,000 of total income. . . . . . . . . . . . . . . . |
8% |
| (3) |
On the next Rs. 5,000 of total income. . . . . . . . . . . . . . . . |
18% |
| (4) |
On the next Rs. 10,000 of total income. . . . . . . . . . . . . . . |
22% |
| (5) |
On the next Rs. 10,000 of total income. . . . . . . . . . . . . . . |
32% |
| (6) |
On the next Rs. 10,000 of total income. . . . . . . . . . . . . . . |
40% |
| (7) |
On the next Rs. 10,000 of total income. . . . . . . . . . . . . . . |
45% |
| (8) |
On the balance of total income. . . . . . . . . . . . . . . . . . . . |
47.5% |
Surcharges on super-tax
The amount of super-tax computed at the rates hereinbefore specified shall be increased by the aggregate of the surcharges calculated as under:
(a) A surcharge for purposes of the Union equal to the sum of
(i) two and a half per cent. of the amount of super-tax calculated at the average rate of super-tax on the income under the head Salaries included in the total income;
(ii) five per cent. of the amount of super-tax calculated at the average rate of super-tax on the total income as reduced by the income under the head Salaries included therein; and
(iii) where the earned income included in the total income exceeds Rs. 1,00,000, ten per cent. of the difference between the amount of super-tax which would have been payable on the whole of the earned income included in the total income, if such earned income had been the total income and the amount of super-tax payable on a total income of Rs. 1,00,000;
(b) A special surcharge at fifteen per cent. of the difference between the amount of super-tax on the total income and the amount of super-tax on the whole of the earned income, if any, included in the total income, if such earned income had been the total income.
Paragraph B
In the case of every local authority,
Rate of super-tax
On the whole of the total income16%
Surcharge on super-tax
The amount of super-tax computed at the rate hereinbefore specified shall be increased by a surcharge for purposes of the Union of 12 per cent. of the amount of super-tax.
Paragraph C
In the case of every association of persons being a co-operative society as defined in clause (19) of Section 2 of the Income-tax Act,
Rates of super-tax
(1) On the first Rs. 25,000 of total income. . . . . . . . . . Nil
(2) On the balance of total income. . . . . . . . . . 16%
Surcharge on super-tax
The amount of super-tax computed at the rates hereinbefore specified shall be increased by a surcharge for purposes of the Union of 12 per cent. of the amount of super-tax.
Paragraph D
In the case of every company, other than the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956),
Rates of super-tax
On the whole of the total income. .55%:
Provided that
(i) a rebate at the rate of 50 per cent. on so much of the total income as consists of dividends from any Indian company; and at the rate of 35 per cent. on the balance of the total income shall be allowed in the case of any company which
(a) in respect of its profits liable to tax under the Income-tax Act for the assessment year commencing on the 1st day of April, 1962, has made the prescribed arrangements for the declaration and payment within India of the dividends payable out of such profits in accordance with the provisions of Section 194 of that Act; and
(b) is such a company as is referred to in Section 108 of the Income-tax Act with a total income not exceeding Rs. 25,000;
(ii) a rebate at the rate of 50 per cent. on so much of the total income as consists of dividends from a subsidiary Indian company formed and registered before the 1st day of April, 1961; at the rate of 45 per cent. on so much of the total income as consists of dividends from any other Indian company; and at the rate of 30 per cent. on the balance of the total income shall be allowed in the case of any company which satisfies condition (a) but not condition (b) of the preceding clause;
(iii) a rebate at the rate of 50 per cent. on so much of the total income as consists of dividends from a subsidiary Indian company formed and registered before the 1st day of April, 1961; at the rate of 30 per cent. on so much of the total income as consists of dividends from an Indian company, not being a subsidiary company, formed and registered before the 1st day of April, 1959; at the rate of 45 per cent. on so much of the total income as consists of dividends from any other Indian company formed and registered on or after the 1st day of April, 1959; at the rate of 30 per cent. on so much of the total income as consists of royalties received from an Indian concern in pursuance of an agreement made by it with the Indian concern on or after the 1st day of April, 1961 and which has been approved by the Central Government; and at the rate of 17 per cent. on the balance of the total income shall be allowed in the case of any company not entitled to a rebate under either of the preceding clauses:
Provided further that
(i) the amount of the rebate under clause (i) or clause (ii) of the preceding proviso shall be reduced by the sum, if any, equal to the amount or the aggregate of the amounts, as the case may be, computed as hereunder:
| (a) |
on the aggregate of the sums computed in the manner provided in clause (i) of the second proviso to Paragraph D of Part II of the First Schedule to the Finance Act, 1961 (14 of 1961) as reduced by the amount, if any, which is deemed to have been taken into account, in accordance with clause (ii) of the said proviso, for the purpose of reducing the rebate mentioned in clause (i) of the said proviso to nil; and |
at the rate of 100%. |
| (b) |
on the amount representing the face value of any bonus shares or the amount of any bonus issued to its shareholders during the previous year with a view to increasing the paid-up capital; |
at the rate of 12 %. |
(ii) where the sum arrived at in accordance with clause (i) of this proviso exceeds the amount of the rebate arrived at in accordance with clause (i) or clause (ii), as the case may be, of the preceding proviso, only so much of the amounts of reduction mentioned in sub-clauses (a) and (b) of clause (i) of this proviso as is sufficient, in that order, to reduce the rebate to nil shall be deemed to have been taken into account for the purpose:
Provided further that the super-tax payable by a company, the total income of which exceeds rupees twenty-five thousands, shall not exceed the aggregate of
(a) the super-tax which would have been payable by the company if its total income had been rupees twenty-five thousand; and
(b) half the amount by which its total income exceeds rupees twenty-five thousand.
Explanation I. For the purposes of this Paragraph, where any portion of the profits and gains of a company is not included in its total income by reason of such portion being agricultural income, the amount representing the face value of any bonus shares and the amount of any bonus issued to its shareholders shall each be deemed to be such proportion thereof as the average of the total income of the company in the five previous years in which the company has been in receipt of taxable income immediately preceding the relevant previous year bears to the average of its total profits and gains (excluding capital receipts) for the preceding five years aforesaid, reduced by such allowances as may be admissible under the Income-tax Act which have not been taken into account by the company in its profit and loss accounts for the preceding five years aforesaid.
Explanation II. For the purposes of this Paragraph and Part III of this Schedule, a company shall be deemed to be a subsidiary of another company if that other company holds more than half in nominal value of the equity share capital of the first mentioned company.
Paragraph E
In the case of the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956),
Rate of super-tax
On the whole of its profits and gains from life insurance business22.5%
Part III
Rates for deduction of tax at source in certain cases
In every case in which under the provisions of sub-section (2) of Section 192 and Sections 193 to 195 of the Income-tax Act, tax is to be deducted at the rates in force, deduction shall be made from the income subject to deduction at the following rates:
| |
Income-tax |
Super tax |
| |
Rate of |
Rates of surcharges |
Rate of |
Rates of |
| |
income-tax |
Surcharge for purposes of the Union |
Special surcharge |
super-tax |
surcharges |
| 1. |
In the case of a person other than a company |
|
|
|
|
|
| (a) |
in every case, on the whole income (excluding interest payable on any security of the Central Government issued or declared to be income-tax free, and interest payable on any security of a State Government issued income-tax free, the income-tax whereon is payable by the State Government, and |
25% |
1.25% |
3.75% |
|
|
| (b) |
in addition, where the person is non-resident in India, on the whole income. |
|
|
|
Super-tax and surcharges on super-tax in accordance with the provisions of clause (b) of sub-section (1) of Section 113 of the Income-tax Act. |
| |
|
|
|
|
Rate of income-tax |
Rate of super-tax |
| 2. |
In the case of a company |
|
|
| (a) |
in every case |
|
|
| (i) |
on the whole income (excluding interest payable on any security of the Central Government issued or declared to be income-tax free and interest payable on any security of a State Government issued income-tax free, the income-tax whereon is payable by the State Government); and. . . . . . . . . . . . . . . . . . . . |
25% |
|
| (ii) |
on the whole income (excluding dividends payable by an Indian company referred to in clause (iv) of sub-section (1) of Section 99 of the Income-tax Act); and. . . . . . . |
|
5% |
| (b) |
in addition, where the company is neither an Indian company nor a company which has made the prescribed arrangements for the declaration and payment of dividends within India, |
|
|
| (i) |
on the income from dividends (excluding dividends payable by an Indian company referred to in clause (iv) of sub-section (1) of Section 99 of the Income-tax Act) |
|
|
| (1) |
on dividends payable by any of its subsidiary Indian companies formed and registered before the 1st day of April, 1961. . . . . . . . . . . . . . . . . . . . |
|
Nil |
| (2) |
on dividends payable by an Indian company, not being a subsidiary company, formed and registered before the 1st day of April, 1959. . . . . . . . . . |
|
20% |
| (3) |
on dividends payable by any other Indian company formed and registered on or after the 1st day of April, 1959. . . . . . . . . . . . . . . . . . . . . . |
|
5% |
| (ii) |
on the income from royalties payable by an Indian concern in pursuance of an agreement which is made by it with the Indian concern on or after 1st day of April, 1961 and which has been approved by the Central Government. . . . . . . . . . . . . . . . . . . . . . . |
|
20% |
| (iii) |
on any other income, not being income from dividends |
|
33% |
(See Section 15)
Part I
In the First Schedule to the Tariff Act,
(i) in Item No. 22(4)(b),
(1) for the entry in the fourth column against sub-item (i), the following entry shall be substituted, namely:
Rs. 60.00 per litre or 170 per cent. ad valorem, whichever is higher, plus Rs. 5.00 per litre. ;
(2) in the entry in the fourth column against sub-item (ii), for the figures 44.00 , the figures 45.00 shall be substituted;
(ii) in Item No. 28-A,
(1) in the entry in the second column, for the word, brackets and letter clause (d) , the word, brackets and letter clause (h) , shall be substituted;
(2) in each of the entries in the fourth, fifth and sixth columns, the words plus the excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty shall be omitted;
(iii) in Item No. 47(2), in the entry in the fourth column, for the words and figures Rs. 6.60 per kilogram or 50 per cent. ad valorem , the words and figures Rs. 7.50 per kilogram or 55 per cent. ad valorem shall be substituted;
(iv) in Items Nos. 63, 63(1), 63(4), 63(5), 63(11), 63(13), 63(23), 63(26) and 63(35), for the figures and words 20 per cent. ad valorem in the entry against each of them in the fourth column, the figures and words 25 per cent. ad valorem shall be substituted;
(v) in Item No. 63(6),
(1) for the entry in the fourth column against sub-item (i), the following entry shall be substituted, namely:
15 per cent. ad valorem. ;
(2) for the entry in the fourth column against sub-item (ii), the following entry shall be substituted, namely:
Rs. 74.00 per tonne plus 5 per cent. ad valorem ;
(vi) in Item No. 63(8), for the entry in the fourth column, the entry Rs. 5.00 per tonne or 20 per cent. ad valorem, whichever is higher, plus 5 per cent. ad valorem shall be substituted;
(vii) in Item No. 63(9), for the entry in the fourth column, the entry Rs. 60.00 per tonne plus 5 per cent. ad valorem shall be substituted;
(viii) in Item No. 63(10),
(1) for the words and figures Rs. 59.10 per tonne in the fourth column against sub-item (i), the words and figures Rs. 80.00 per tonne shall be substituted;
(2) for the words and figures Rs. 79.70 per tonne in the fourth column against sub-item (ii), the words and figures Rs. 100.00 per tonne shall be substituted;
(ix) in Items Nos. 63(12), 63(15), 63(28), 63(29)(a), 63(29)(b) and 63(33)(b), for the entry against each of them in the fourth column, the entry 55 per cent. ad valorem shall be substituted;
(x) in Item No. 63(17),
(1) for the entry in the fourth column against sub-item (i), the following entry shall be substituted, namely:
Rs. 32.00 per tonne or 10 per cent. ad valorem, whichever is higher, plus 5 per cent. ad valorem ;
(2) for the entry in the fourth column against sub-item (ii), the following entry shall be substituted, namely:
Rs. 55.00 per tonne plus 5 per cent. ad valorem. ;
(xi) in Items Nos. 63(18)(b) and 63(33)(a), for the entry against each of them in the fourth column, the entry 40 per cent. ad valorem shall be substituted;
(xii) in Item No. 63(19), in the entry in the second column, after the words cast iron plates , the words and stainless steel plates shall be added;
(xiii) in Item No. 63(20), in the entry in the second column, after the words high silicon electrical steel sheets , the words and stainless steel sheets shall be added;
(xiv) in Item No. 63(24), for the entries in the fourth and fifth columns, the entries 55 per cent. ad valorem and 45 per cent. ad valorem , shall, respectively, be substituted;
(xv) in Item No. 63(25), in the entry in the second column, the words and iron or steel wire nails shall be omitted;
(xvi) in Item No. 63(27),
(1) for the entry in the fourth column against sub-item (i), the entry Rs. 15.00 per tonne or 15 per cent. ad valorem, whichever is higher, plus 5 per cent. ad valorem shall be substituted;
(2) for the entry in the fourth column against sub-item (ii), the entry Rs. 42.00 per tonne or 25 per cent. ad valorem, whichever is higher, plus 5 per cent. ad valorem shall be substituted;
(xvii) in Item No. 71(a), for the entry 35 per cent. ad valorem in the fourth column, the entry 50 per cent. ad valorem shall be substituted; and
(xviii) in Item No. 75(1), for the entry in the fourth column, the entry 150 per cent. ad valorem shall be substituted.
Part II
| Item |
Name of Article |
Nature of |
Standard rate of |
Preferential rate of duty if the article is the produce or manufacture of |
Duration of protective |
| No. |
|
duty |
duty |
The United Kingdom |
A British Colony |
rates of duty |
| 1 |
2 |
3 |
4 |
5 |
6 |
7 |
| In the First Schedule to the Tariff Act, |
| (i) |
for Item No. 22(5)(b), the following Item shall be substituted, namely: |
| 22(5)(b) |
Drugs and medicines containing spirit |
|
|
|
|
|
| (i) |
entered in such a manner as to indicate that the strength is not to be tested. |
Preferential Revenue. |
Rs. 12.00 per litre or 50 per cent. ad valorem, whichever is higher, plus Rs. 5.00 per litre. |
Rs. 11.10 per litre or 40 per cent. ad valorem, whichever is higher, plus Rs. 5.00 per litre. |
Rs. 11.10 per litre or 40 per cent. ad valorem, whichever is higher, plus Rs. 5.00 per litre. |
. . |
| (ii) |
not so entered. |
Preferential Revenue. |
Rs. 9.00 per litre of the strength of London proof or 50 per cent. ad valorem, whichever is higher, plus the excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty. |
Rs. 8.35 per litre of the strength of London proof or 40 per cent. ad valorem, whichever is higher, plus the excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty. |
Rs. 8.35 per litre of the strength of London proof or 40 per cent. ad valorem, whichever is higher, plus the excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty. |
. . ; |
| (ii) |
in Section V, after Item No. 27(9), the following Item shall be inserted, namely: |
| 27(10) |
All products derived from refining of crude petroleum or shale (whether gaseous, liquid, semi-solid or solid in form), including refinery gases, lubricating oil and greases, waxes and coke, but excluding articles falling under Items Nos. 27(3), 27(4)(a), 27(5), 27(6) and 27(7)(b). |
Revenue. . |
The excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
. . |
. . |
. . |
| (iii) |
after Item No. 28(34), the following Items shall be inserted, namely: |
| 28(35) |
Nitric, Hydrochloric and Sulphuric Acids (including fuming acids and anhydrides thereof), all sorts. |
Revenue. . |
The excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
. . |
. . |
. . |
| 28(36) |
Compressed, liquefied or solidified gases, the following, namely: |
Revenue. . |
The excise duty for the time being leviable on like |
. . |
. . |
. . |
| (i) |
Oxygen. |
|
articles if produced |
|
|
|
| (ii) |
Chlorine. |
|
or manufactured in |
|
|
|
| (iii) |
Ammonia. |
|
India, and where |
|
|
|
| (iv) |
Carbonic acid (Carbon dioxide). |
|
such duty is leviable at different rates, |
|
|
|
| (v) |
Refrigerant gases, all others, such as sulphur dioxide and freon. |
|
the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
|
|
|
| 28(37) |
Patent or proprietary medicines not containing alcohol, opium, Indian hemp or other narcotic drugs or other narcotics other than those medicines which are exclusively Ayurvedic, Unani, Sidha of Homoeopathic. |
Revenue |
The excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
|
|
. . ; |
| |
Explanation. For the purposes of this item, patent or proprietary medicines means any drug or medicinal preparation, in whatever form, for use in the internal or external treatment of, or for the prevention of ailments in, human beings or animals, which bears either on itself or on its container or both, a name which is not specified in a monograph in a Pharmacopoeia, Formulary or other publications notified in this behalf by the Central Government in the Official Gazette, or which is a brand name, that is, a name or a registered trade mark under the Trade and Merchandise Marks Act, 1958 (43 of 1958) or any other mark such as a symbol, monogram, label, signature or invented words or any writing which is used in relation to that medicine for the purpose of indicating or so as to indicate a connection in the course of trade between the medicine and some person having the right either as proprietor or otherwise to use the name or mark with or without any indication of the identity of that person. |
|
| (iv) |
in Section VIII, after Item No. 39(3), the following Item shall be inserted, namely: |
| 39(4) |
Rubber products, the following, namely: |
Revenue. . |
The excise duty for the time being |
|
|
. . ; |
| (i) |
Latex foam sponge |
|
leviable on like |
|
|
|
| (ii) |
Plates, sheets and strips unhardened, whether vulcanized or not, and whether combined with any textile material or otherwise. |
|
articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
|
|
|
| (v) |
in Section IX, after Item No. 42, the following Item shall be inserted, namely: |
| 42(1) |
Plywood, blockboard, laminboard, batten board, hard or soft wall boards or insulating board and veneered panels, whether or not containing any material other than wood; cellular wood panels; building boards of wood pulp or of vegetable fibre, whether or not bonded with natural or artificial resins or with similar binders; and artificial or reconstituted wood being wood shavings, wood chips, saw dust, wood flour or other ligneous waste agglomerated with natural or artificial resins or other organic binding substances, in sheets, blocks, boards or the like |
Revenue. . |
The excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
. . |
. . |
. . ; |
| (i) |
Plywood for tea-chests when cut to size in panels or shooks and packed in sets. |
|
|
|
|
|
| (ii) |
All others. |
|
|
|
|
|
| (vi) |
after Item No. 50(1), the following Item shall be inserted, namely: |
| 50(1-A) |
Jute manufactures (including manufactures of Bimlipatam jute or of Mesta fibre), all sorts |
Revenue. . |
The excise duty for the time being leviable on like articles if produced |
. . |
. . |
. . ; |
| (i) |
Hessians. |
|
or manufactured in |
|
|
|
| (ii) |
All other descriptions of jute manufactures not falling in sub-item (i) above (including cloth, bags, twist, yarn, rope and twine). |
|
India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
|
|
|
| (vii) |
after Item No. 58(1), the following Item shall be inserted, namely: |
| 58(1-A) |
Asbestos-cement products, all sorts, including flat and corrugated sheets, pipes and tubes and tiles. |
Revenue. . |
The excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
. . |
. . |
. . ; |
| (viii) |
for Item No. 63(16), the following Item shall be substituted, namely: |
| 63(16) |
Iron or steel washers, all sorts, and iron or steel nails, all sorts, including wire nails and panel pins. |
Revenue. . |
55 per cent. ad valorem. |
. . |
. . |
. . ; |
| (ix) |
for Item No. 63(20), the following Item shall be inserted, namely: |
| 63(20-A) |
Stainless steel plates and sheets. |
Revenue. . |
25 per cent. ad valorem. |
. . |
. . |
. . ; |
| (x) |
for Item No. 63(35), the following Item shall be inserted, namely: |
| 63(36) |
Iron or steel products, the following, namely: |
Revenue. . |
The excise duty for the time being leviable on like |
. . |
. . |
. . ; |
| (i) |
Bars, rods, coils, wires, joists, girders, angles, channels, tees, flats, beams, zeds, trough, pilling, and all other rolled, forged or extruded shapes and sections. |
|
articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in |
|
|
|
| (ii) |
Plates and sheets, other than plates and sheets intended for tinning, and hoops and strips, all sorts, including galvanised or corrugated plates and sheets. |
|
addition to the duty which would have been levied if this entry had not been inserted. |
|
|
|
| (iii) |
Uncoated plates and sheets intended for tinning. |
|
|
|
|
|
| (iv) |
Pipes and tubes (including blanks therefor), all sorts, whether rolled forged, spun, cast, drawn, annealed, welded or extruded. |
|
|
|
|
|
| (v) |
All other steel castings. |
|
|
|
|
|
| (xi) |
for Item No. 64(6), the following Item shall be substituted, namely: |
| 64(6) |
Copper and copper alloys containing not less than fifty per cent. by weight of copper |
Revenue. . |
The excise duty for the time being leviable on like articles if produced |
. . |
. . |
. . ; |
| (1) |
In any crude form including ingots, bars, blocks, slabs, billets, shots and pellets. |
|
or manufactured in India, and where such duty is leviable at different rates, |
|
|
|
| (2) |
Manufactures, the following, namely, plates, sheets, circles, strips and foils in any form or size. |
|
the highest duty; and the duty so leviable shall be in addition to the duty which would have |
|
|
|
| (3) |
Pipes and tubes. |
|
been levied if this entry had not been inserted. |
|
|
|
| (xii) |
for Item No. 72(41), the following Item shall be substituted, namely: |
| 72(41) |
Refrigerating and air-conditioning appliances and machinery, all sorts, and parts thereof: |
Revenue. . |
The excise duty for the time being leviable on like articles if produced |
. . |
. . |
. . ; |
| (1) |
Refrigerators and other refrigerating appliances, which are ordinarily sold or offered for sale as ready assembled units, such as ice makers, bottle coolers, display cabinets and water coolers. |
|
or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been |
|
|
|
| (2) |
Air-conditioners and other air-conditioning appliances, which are ordinarily sold or offered for sale as ready assembled units, including package type air-conditioners and evaporative type of coolers. |
|
inserted. |
|
|
|
| (3) |
Parts of refrigerating and air-conditioning appliances and machinery, all sorts. |
|
|
|
|
|
| (xiii) |
in Section XVI, after Item No. 73(23), the following Items shall be inserted, namely: |
| 73(24) |
Electric wires and cables, all sort, not falling under Item 63(36). |
Revenue. . |
The excise duty for the time being leviable on like articles if produced or manufactured in India and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty which would have been levied if this entry had not been inserted. |
. . |
. . |
. . ; |
| (xiv) |
in Section XVIII, after Item No. 79, the following Item shall be inserted, namely: |
| 79(1) |
Gramophones, including record players, whether mechanically or electrically driven, and with acoustic, electronic or transistorised systems of reproduction or amplification, and parts and accessories thereof, and gramophone records, all sorts |
Revenue. . |
The excise duty for the time being leviable on like articles if produced or manufactured in India, and where such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in |
. . |
. . |
. . ; |
| (i) |
Gramophones or record players, including radiograms. |
|
addition to the duty which would have been levied if this entry had not been inserted. |
|
|
|
| (ii) |
Parts and accessories of gramophones or record players, all sorts. |
|
|
|
|
|
| (iii) |
Gramophone records, all sorts, other than matrices. |
|
|
|
|
|
| (iv) |
Matrices for records impressed. |
|
|
|
|
|
| (v) |
Gramophone needles or styli |
|
|
|
|
|
| (a) |
wholly made of steel. |
|
|
|
|
|
| (b) |
Others. |
|
|
|
|
|
| (xv) |
for Item No. 82(6)(A), the following Item shall be substituted, namely: |
| 82(6)(A) |
Plastics, all sorts |
Revenue. . |
The excise duty for |
. . |
. . |
. . ; |
| (i) |
Moulding powders, granules and flakes (thermosetting and thermoplastic.) |
|
time being leviable on like articles if produced or manufactured in India, and where |
|
|
|
| (ii) |
Polyethylene films, lay-flat-tubings and P.V.C. sheets (that is to say, Polyvinyl Chloride sheets). |
|
such duty is leviable at different rates, the highest duty; and the duty so leviable shall be in addition to the duty |
|
|
|
| (iii) |
All others. |
|
Which would have been levied if this entry had not been inserted. |
|
|
|