Excise duty exemption on twisted yarn allows input duty credits to meet final duty liability for independent twisters. Notification No.66/2003-CE allows excise duty on twisted (including crepe) yarn manufactured by independent twisters to be discharged by input duty credits equal to duties paid on base filament yarns, provided the twister performs no other processes and inputs are procured from outside having borne appropriate duty; payment of nil duty is not adequate. Independent twisters must maintain input and finished goods accounts to ascertain duty liability for each consignment, and commissioners should consult trade to establish simple, auditable record-keeping modalities.
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 exemption on twisted yarn allows input duty credits to meet final duty liability for independent twisters.
Notification No.66/2003-CE allows excise duty on twisted (including crepe) yarn manufactured by independent twisters to be discharged by input duty credits equal to duties paid on base filament yarns, provided the twister performs no other processes and inputs are procured from outside having borne appropriate duty; payment of nil duty is not adequate. Independent twisters must maintain input and finished goods accounts to ascertain duty liability for each consignment, and commissioners should consult trade to establish simple, auditable record-keeping modalities.
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