Excise liability on captive consumption of steel formers affirmed where excluded from captive-consumption concession during compounded levy period. Steel formers used in induction furnaces are an excisable commodity classifiable as hollow profiles and, being physically consumed and incorporated into ingots and billets, constitute inputs. Amendments excluding ingots and billets from the captive-consumption concession mean internally manufactured inputs consumed in producing those products do not receive the concession and are liable to excise duty; this applied to units operating under the compounded levy scheme while it was in effect.
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Excise liability on captive consumption of steel formers affirmed where excluded from captive-consumption concession during compounded levy period.
Steel formers used in induction furnaces are an excisable commodity classifiable as hollow profiles and, being physically consumed and incorporated into ingots and billets, constitute inputs. Amendments excluding ingots and billets from the captive-consumption concession mean internally manufactured inputs consumed in producing those products do not receive the concession and are liable to excise duty; this applied to units operating under the compounded levy scheme while it was in effect.
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