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of <h1>Finance Bill 2011: Central Excise Duty Stays at 10%, New Duties on Garments, Simplified Cenvat Credit Rules.</h1> The Finance Bill, 2011, introduced amendments to Customs and Central Excise laws, affecting duty rates and legislative provisions. Key changes include maintaining the standard Central Excise duty rate at 10% for non-petroleum products, revising duty structures for cement, and imposing a 10% duty on branded ready-made garments. Amendments in the Cenvat Credit Rules aim to simplify definitions and reduce disputes. Customs changes include a unified basic duty rate of 2.5% and self-assessment provisions for imports and exports. The Bill also introduces legislative changes to enhance clarity and coherence in duty recovery and interest provisions.
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