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of <h1>Excise Duty Applies on Date of Removal, Not Manufacture, Says CBEC Circular, Following Supreme Court Ruling.</h1> The circular from the Central Board of Excise & Customs addresses the dutiability of goods produced when exempt from duty but liable at the time of clearance. Following the Supreme Court's decision in the case of M/s. Wallace Flour Mills Co. Ltd. v. Collector of Central Excise, it clarifies that excise duty applies based on the date of removal rather than manufacture, as per Rule 9A. This decision overturns previous instructions that exempted pre-budget stocks from duty if fully manufactured before the imposition of duty. The circular instructs that this clarification be communicated to relevant parties for guidance.
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