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of <h1>Finance Act 2010: Key Changes to Central Excise Act Include No Penalty for Voluntary Short-Payments, Record-Keeping Amendments</h1> The Finance Act, 2010 proposes several amendments to the Central Excise Act and related rules. Clause 63 clarifies that no penalty will be imposed for voluntary duty short-payments. Clause 64 modifies section 32E regarding record-keeping for goods. Clause 65 allows the Settlement Commission to extend specified periods by up to three months. Clause 66 permits applications for settlement except in specified cases. Clause 67 empowers the government to impose restrictions on manufacturers or exporters to prevent duty evasion. Clauses 68 to 72 address retrospective amendments to the Central Excise Rules and CENVAT Credit Rules, requiring manufacturers to pay amounts equal to CENVAT credit with interest for inputs used in exempted goods. Clause 73 amends the wording in a notification under rule 5 of the CENVAT Credit Rules, 2004.
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