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of <h1>Excise Duty Exemptions for Specified Industrial Areas Introduced in 2002, Rescinded in 2017; Conditions on Value Addition Applied.</h1> The Central Government, under Notification No. 56/2002 dated November 14, 2002, granted excise duty exemptions for goods produced in specified industrial areas such as Industrial Growth Centres, Export Promotion Parks, and others, as listed in Annexure II. This exemption was applicable to goods, excluding those in Annexure I, and was based on the value addition during manufacturing. Manufacturers were required to utilize CENVAT credit before claiming cash refunds. The notification outlined procedures for claiming exemptions, including submitting duty statements and obtaining refunds. It applied to new units established after June 14, 2002, and existing units undergoing significant expansion, with specific conditions on employment and investment. The exemption was rescinded by Notification No. 21/2017 on July 18, 2017.
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