Excise duty based on capacity of production allows notification of goods and deemed production for levy and collection. The Central Government may notify goods as notified goods and levy excise duty on them based on deemed annual capacity of production determined either directly by an Assistant Commissioner-level officer or by applying a specified production factor; such deemed annual capacity constitutes the factory's annual production, with proportionate adjustments for partial-year operation or factor changes. Duty is levied at notified rates on units of production or specified factors and collected as prescribed, subject to abatement for continuous non-production periods and an exemption for hundred per cent export-oriented undertakings.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Excise duty based on capacity of production allows notification of goods and deemed production for levy and collection.
The Central Government may notify goods as notified goods and levy excise duty on them based on deemed annual capacity of production determined either directly by an Assistant Commissioner-level officer or by applying a specified production factor; such deemed annual capacity constitutes the factory's annual production, with proportionate adjustments for partial-year operation or factor changes. Duty is levied at notified rates on units of production or specified factors and collected as prescribed, subject to abatement for continuous non-production periods and an exemption for hundred per cent export-oriented undertakings.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
