<h1>2012-2013 Budget: Excise Duty Hikes, Cenvat Credit Rule Changes, and Export Procedure Updates Effective March 17, 2012.</h1> The 2012-2013 budget introduces several amendments to central excise notifications, effective March 17, 2012. Key changes include increasing the excise duty rate from 5% to 6% for certain goods and setting a peak excise duty rate of 12% for most products, with specific rates of 6%, 14%, and 15% for others. Various notifications rescind previous ones, adjust duty rates on cigarettes, jewelry, and garments, and amend procedures for exports and excise exemptions for defense supplies. Additionally, modifications to Cenvat Credit Rules and conditions for export to Bhutan are outlined. The updates aim to streamline excise duties and procedures.