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of <h1>Finance Bill 2012 amends Section 11AC of Central Excise Act, revises penalty clauses, and adds 30-day payment condition.</h1> Clause 133 of the Finance Bill, 2012 proposes amendments to section 11AC of the Central Excise Act. It modifies clauses (a) and (b) in sub-section (1) to include additional wording regarding duties not levied or paid. Clause (c) is amended to specify that the benefit of a reduced penalty is available only if the penalty is paid within the specified 30-day period. These changes will become effective upon the President's assent to the Bill.
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