Exemption clearance reckoning under Notification No. 1/93-C.E. runs from the date of option, not first eligibility.

For computing clearances under Notification No. 1/93-C.E., the decisive date is the date on which the manufacturer opts for the exemption, not the date on which the goods first became eligible for it. Clearances must therefore be reckoned from the date of option under the exemption scheme. Applying its earlier view, the Tribunal held the assessee entitled to relief and allowed the appeal with consequential relief according to law.

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Issues: Whether, for computing the value of clearances under Notification No. 1/93-C.E., the relevant date is the date on which the goods became eligible for the notification or the date on which the manufacturer opted for the notification.

Analysis: The Tribunal followed its earlier view that, for the purpose of reckoning clearances under the exemption scheme, the decisive date is the date on which the manufacturer opts for the exemption and not the date on which the goods are first notified as eligible. On that basis, the clearances were required to be counted from the date of option.

Conclusion: The issue was decided in favour of the assessee, and the appeal was allowed with consequential relief according to law.

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