Central Excise duties partially rolled back

In the Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, the rate reduction in Central Excise duties has been partially rolled back and the standard rate on all non-petroleum products enhanced from 8% to 10% ad valorem.

The specific rates of duty applicable to Portland cement and cement clinker are also being adjusted upwards proportionately.

Similarly, the ad valorem component of excise duty on large cars, multi-utility vehicles and sports-utility vehicles which was reduced as part of the first stimulus package is being increased by 2% points to 22%.

Source : Equity Bulls

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