The Excise (Management and Tariff) Act, Cap 147 through Section 124 (1) imposes an excise duty on excisable non-petroleum products which may include mineral waters, beers made
from Malt, spirits, cigarettes containing tobacco, spirits obtained by distilling grapes, cement (proposed), etc., at rates specified in the third and fourth column of the Fourth Schedule as stipulated in the Principal Act.
Sub-sequent, through Section 124 (2), Excise duty Specific rates shall be adjusted annually in accordance with the projected inflation rate. The objective of this measure is to restore the value of specific excise duty rates to be in line with the inflation rate and other key macroeconomic indicators.
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Predictability of the Excise Regime for selected Non-Petroleum Products_compressed