Excise Duty Rate Increases reshape indirect tax liabilities and extend sectoral concessions under the 2010 fiscal measures. The Finance Act 2010 increases the standard Central Excise rate on non-petroleum goods and revises specific duties across cement, automobiles, petroleum, ... Summary
Excise Duty Rate Increases reshape indirect tax liabilities and extend sectoral concessions under the 2010 fiscal measures.
The Finance Act 2010 increases the standard Central Excise rate on non-petroleum goods and revises specific duties across cement, automobiles, petroleum, tobacco and precious metals; introduces a Clean Energy Cess; extends and creates sector-specific exemptions and concessional rates for agriculture, environment-friendly goods, capital goods and health-sector equipment; unifies and rationalises various duty rates; withdraws selected exemptions; and enacts procedural and substantive amendments to Cenvat Credit rules, Central Excise, Customs Tariff and Settlement Commission provisions to govern valuation, credit reversal, dispute settlement and rule-making powers.
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