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of <h1>Manufacturers Must Choose: Duty Payment or Exemption Under General Exemption 4 of 1997; Avoid Dual Benefits to Protect Revenue.</h1> General Exemption 4 of 1997, effective from March 1, 1997, allows a concessional or nil rate of duty on certain plastic articles if Modvat Credit is not claimed on inputs. A case highlighted to the Central Board of Excise & Customs involved an assessee benefiting from both Modvat Credit and duty exemptions, which complicates proper accounting and risks revenue loss. Manufacturers must choose between paying duty or availing exemptions, adhering to specified conditions. Commissioners are requested to report occurrences and actions taken to protect government revenue.
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