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of <h1>Finance Bill 2010 introduces Rule 57CCC: Manufacturers must pay 24% interest on duties for exempted products, retroactively validated.</h1> Clause 68 of the Finance Bill, 2010 amends the Central Excise Rules, 1944 by introducing Rule 57CCC, effective retrospectively as specified in the Fourth Schedule. Manufacturers opting to pay specified duty on inputs for exempted or nil-duty final products must do so with 24% annual interest, submitting relevant documentation to the Commissioner of Central Excise within six months of the Bill's enactment. The Commissioner will verify payments within two months, demanding any shortfall with interest. Actions taken between September 1, 1996, and March 31, 2000, are validated by this amendment, which also clarifies that no new offenses are created.
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