Excise on goods manufactured prior to March 1, 1978 but removed on or after March 1, 1978?

The special excise duty was being levied from 1963 upto 1971 by various Finance Acts passed from time to time. It was discontinued from 1972 until 1978 when it was revived by the Finance Act, 1978. Thereafter, it was being levied from year to year by annual Finance Acts.The provisions of these Finance Acts,insofar as the levy of special excise duty is concerned,are identical. In the Finance Acts of 1987 and 1988,however,the rate of special excise duty was raised to ten percent but then notifications were issued exempting the duty on all goods in toto. In oth

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