Below are the Major changes in Excise Duty announced in the Union Budget of India 2011-2012.
- Government has imposed 10% excise duty on branded garments.
Finance Minister Pranab Mukherjee today retained the rate of standard excise duty at 10%
in the Budget for 2011-12, giving a little respite to industry, which feared a rollback of stimulus measures.
However, he has brought 130 items under the tax net by withdrawing exemptions granted earlier, though the burden would only be of the order of 1%.
Most of these relate to the consumer goods sector.
The government had announced a slew of stimulus measures in the form of excise duty cuts and exemptions to combat the crippling effects of global financial crisis that broke out in 2008. However, following the improvement in the situation, industry had feared the excise duty rate would again be raised.