Capacity-based excise duty: option to pay monthly lump-sum discharge under Rule 96ZO, with procedural limits and credit disallowance. The Induction Furnace Annual Capacity Determination Rules require the Commissioner to determine a factory's annual capacity for ingots and billets of non alloy steel from installed crucible capacity, with pro rata adjustments and Commissioner approval for crucible changes. Rule 96ZO offers an optional monthly lump sum duty payment based on total furnace capacity, disallowing reliefs for non operation or lower actual production; non optors must pay per tonne duty on clearances, reconcile liabilities by prescribed dates and face interest for defaults. Modvat credit is disallowed for the notified goods and lapses at the cut off.
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Provisions expressly mentioned in the judgment/order text.
Capacity-based excise duty: option to pay monthly lump-sum discharge under Rule 96ZO, with procedural limits and credit disallowance.
The Induction Furnace Annual Capacity Determination Rules require the Commissioner to determine a factory's annual capacity for ingots and billets of non alloy steel from installed crucible capacity, with pro rata adjustments and Commissioner approval for crucible changes. Rule 96ZO offers an optional monthly lump sum duty payment based on total furnace capacity, disallowing reliefs for non operation or lower actual production; non optors must pay per tonne duty on clearances, reconcile liabilities by prescribed dates and face interest for defaults. Modvat credit is disallowed for the notified goods and lapses at the cut off.
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