Concessional duty rate cannot be claimed mid-year after choosing the normal rate under Notification No. 1/93.

An assessee that elects to pay duty at the normal rate at the start of a financial year cannot switch to the concessional rate under Notification No. 1/93 during that same year. The proviso to Para 4 was read as barring reversion once the option for the normal rate is exercised, and the governing condition was treated as applying for the full financial year. The lower authority's interpretation was found consistent with the notification, and the demand was upheld.

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Issues: Whether an assessee who had opted for payment of duty at the normal rate at the start of the financial year could later claim the concessional rate under the notification during the same financial year.

Analysis: The proviso to Para 4 of Notification No. 1/93 dated 01.03.1993 was examined and found to bar a reversion to the concessional rate once the assessee had exercised the option to pay duty at the normal rate. The governing condition applied for the entire financial year, and the lower authority's view was found to be consistent with the notification.

Conclusion: The assessee was not entitled to the concessional rate after opting for payment at the normal rate, and the demand was upheld.

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