https://www.taxtmi.com/circulars?id=8540 Restructuring of central excise and customs duties introduces revised tariff rates and valuation bases, targeted withdrawal of exemptions with a nominal levy and denial of input credit for affected items, bespoke duty adjustments for cement, garments, automobiles and precious metals, and expanded concessional coverage for specified public-interest and green technologies. Procedural and legislative reforms recast penalty, interest and recovery provisions including a new first-charge on defaulters' property, empower self-assessment with verification and audit safeguards in customs, and broaden Cenvat Credit definitions and attribution rules while imposing specific limits and reversal requirements. en-us Mon, 28 Feb 2011 00:00:00 +0530 Mon, 28 Feb 2011 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8540 Restructuring of central excise and customs duties introduces revised tariff rates and valuation bases, targeted withdrawal of exemptions with a nominal levy and denial of input credit for affected items, bespoke duty adjustments for cement, garments, automobiles and precious metals, and expanded concessional coverage for specified public-interest and green technologies. Procedural and legislative reforms recast penalty, interest and recovery provisions including a new first-charge on defaulters' property, empower self-assessment with verification and audit safeguards in customs, and broaden Cenvat Credit definitions and attribution rules while imposing specific limits and reversal requirements. Circulars Central Excise Mon, 28 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8540