TaxTMI 
TaxTMI 
TaxTMI 
Question - What are proposed amendment in Notification No.12/2012-CE dated 17-3-2012 in Finance Bill 2015 ?
Notification No.12/2012-CE dated 17-3-2012
Admin TMI
Excise Duty Exemption for Railway Track Materials Made of Iron and Steel to Apply Retrospectively Until February 2014 Notification No.12/2012-CE dated 17-3-2012 exempts railway or tramway track construction material made of iron and steel from excise duty on the value of rails, provided the rails have already incurred excise duty and no credit is claimed under the CENVAT Credit Rules, 2004. The Finance Bill 2015 proposes to apply this exemption retrospectively from 17.03.2012 to 02.02.2014. (AI Summary)