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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>New Amendments to Section 37: Interest on Differential Duty & Lapsing of Unutilized Duty Credit Explained</h1> Section 37 of the Central Excise Act is amended to include new clauses. Clause (ibb) introduces provisions for charging or refunding interest on the differential duty amount upon finalizing provisional assessments. Clause (xxviii), effective retroactively from March 16, 1995, addresses the lapsing of unutilized duty credit for manufacturers of specified excisable goods, prohibiting its use for duty payments on any excisable goods from a designated date.