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of <h1>New Circular: Excise Duty on Partially Oriented Yarn (POY) Based on Original Denierage, Not Final Product.</h1> The circular addresses the assessment of Partially Oriented Yarn (POY) and textured yarn under Central Excise. It reviews and modifies the Ministry's earlier stance from 1980, emphasizing that POY is a marketable, excisable product. The duty should be based on its denierage at the take-up stage, not the final denierage after processing. The circular references legal opinions and court decisions, including a High Court ruling and a Tribunal order, affirming that POY is identifiable and marketed as such. The revised guidance clarifies that excise duty should be collected on POY's original denierage, and pending cases should be resolved accordingly.
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