Section 81 - Regulatory duty of excise - Finance Act, 1965

81. Regulatory duty of excise. (1) With a view to regulating or bringing greater economy in consumption, there shall be levied and collected, with effect from such date, and at such rate, as may be specified in this behalf by the Central Government by notification in the Official Gazette, on all or any of the goods mentioned in the First Schedule to the Central Excises Act as amended by this Act or any subsequent Act of Parliament, a regulatory duty of excise which shall not exceed 15 per cent. of the value of the goods as determined in accordance with the provisions of section 4 of the Central Excises Act: Provided that different dates and different rates may be specified by the Central Government for different kinds of goods. (2) Sub-section (1) shall cease to have effect after the 15th day of May, 1966, except as respects things done or omitted to be done before such cesser; and section 6 of the General Clauses Act, 1897 (10 of 1897) shall apply upon such cesser as if the said sub-section had then been repealed by a Central Act. (3) The duties of excise referred to in sub-section (1) in respect of the goods specified therein shall be in addition to the duties of excise chargeable on such goods under the Central Excises Act or any other law for the time being in force and such regulatory duties shall be levied for purposes of the Union and the proceeds thereof shall not be distributed among the States. (4) The provisions of the Central Excises Act and the rules made thereunder, including those relating to refunds and exemptions from duties, shall, as far as may be, apply Jn relation to the levy and collection of the regulatory duty of excise leviable under this section in respect, of any goods as they apply in relation to the levy and collection of the duties of excise on such goods under that Act or those rules. (5) Every notification issued under sub-section (1) shall, as soon as may be after it is issued, be placed before each House of Parliament. (6) All regulatory duties of excise levied under sub-section (1) of section 62 of the Finance Act, 1964, shall, subject to any notification issued under rule 8 of the Central Excise Rules, 1944, read with sub-section (4) of the said section, continue to have effect until the other provisions of this section come into force.