Money credit scheme: credits are not refundable on inputs used in exported goods and are usable only against home-consumption duty. The Board decided that the money credit scheme grants specified monetary credits unrelated to duty paid on inputs, and therefore such credits are not refundable when inputs or intermediate goods are used in final products cleared for export under bond; those credits may only be utilised to pay excise duty on similar final products cleared for home consumption on payment of duty.
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.
Money credit scheme: credits are not refundable on inputs used in exported goods and are usable only against home-consumption duty.
The Board decided that the money credit scheme grants specified monetary credits unrelated to duty paid on inputs, and therefore such credits are not refundable when inputs or intermediate goods are used in final products cleared for export under bond; those credits may only be utilised to pay excise duty on similar final products cleared for home consumption on payment of duty.
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