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of <h1>Finance Bill 2011: Central Excise Duty Maintained at 10%, Merit Rate Raised; Changes for Cement, Garments, Autos, Metals.</h1> The circular outlines amendments in Customs and Central Excise laws and duty rates as proposed in the Finance Bill, 2011. Key changes include maintaining the standard Central Excise duty rate at 10% for non-petroleum goods, with an increase in the merit rate from 4% to 5%. Specific adjustments are made for cement, ready-made garments, automobiles, and precious metals. Several exemptions are withdrawn, imposing a nominal duty of 1% on certain items, while relief measures include full exemptions for specific goods. Legislative amendments aim to simplify and clarify existing provisions, with a focus on self-assessment in customs procedures.
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