Withdrawal of warehousing facility requires refineries to pay excise duty at removal and ensures warehouse stocks are taxed. Withdrawal of the warehousing facility requires refineries to pay excise duty at the time of removal and for warehouses to pay duty on stocks held at the cut off; jurisdictional officers must ascertain stocks and in transit goods and ensure immediate payment. Assessable value is to be fixed under section 4 read with Valuation Rules, with provisional assessment permitted for uncertain classifications such as LPG, and existing end use exemptions remain in force for qualifying direct clearances.
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.
Withdrawal of warehousing facility requires refineries to pay excise duty at removal and ensures warehouse stocks are taxed.
Withdrawal of the warehousing facility requires refineries to pay excise duty at the time of removal and for warehouses to pay duty on stocks held at the cut off; jurisdictional officers must ascertain stocks and in transit goods and ensure immediate payment. Assessable value is to be fixed under section 4 read with Valuation Rules, with provisional assessment permitted for uncertain classifications such as LPG, and existing end use exemptions remain in force for qualifying direct clearances.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
