Govt oks amendment in excise tariff bill

Government today approved an amendment in the central excise tariff act so as to incorporate the changes in the excise rates carried out in
last year's budget.

"The cabinet gave its ex-post facto approval for moving the official amendments to the central excise tariff (amendment) bill of 2004," Finance Minister P Chidambaram said after the cabinet meeting.

The amendment was carried out to incorporate in the central excise tariff act, the new rates as specified in the Finance act of 2004.

After incorporating the official amendments to the central excise tariff (amendment) bill of 2004, the bill was passed by both houses of parliament during the winter session and assent of the President was also received.

The central excise tariff act, 2004 has come into effect from February 28, 2005.