Good morning to all experts,
First of all happy Holi to all of you my loving experts.
My query is that we was take a bond under excise for CONSECIONAL RATE OF DUTY EXCISE (purchase led bulb material). We purchase that material @ 6% bed. But due to some rate problem we want to change bond and want to take another bond with same item but different rate.So can you please tell me the procuder of previous bond surrendering and take new bond.We was take previous bond 22 feb-2016 and we want to now surrender this bond
Individual Seeks to Surrender Excise Bond and Obtain New One Due to Rate Change; Requires Commissioner Approval An individual inquired about the procedure to surrender an existing excise bond and obtain a new one due to a rate change for purchasing LED bulb materials at a concessional duty rate. The response clarified that bond matters with the Central Excise Authority are governed by Central Excise Law, while bonds with other parties fall under Civil Law. To execute a new bond at a different rate, the individual must seek permission from the jurisdictional Assistant/Deputy Commissioner to cancel the previous bond and establish a new one under the relevant rules. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
