Exemption under Section 11C: duty on in-factory parts for certain railway rolling stock waived if input credit reversed. The Central Government, invoking statutory power, directs that excise duty payable under section 3 on parts produced and used within the factory for manufacture of railway rolling stock goods need not be paid where duty was not levied under a prevailing practice during the specified historical period, provided the unit claiming the benefit reverses any input credit taken in respect of inputs used in those goods.
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Provisions expressly mentioned in the judgment/order text.
Exemption under Section 11C: duty on in-factory parts for certain railway rolling stock waived if input credit reversed.
The Central Government, invoking statutory power, directs that excise duty payable under section 3 on parts produced and used within the factory for manufacture of railway rolling stock goods need not be paid where duty was not levied under a prevailing practice during the specified historical period, provided the unit claiming the benefit reverses any input credit taken in respect of inputs used in those goods.
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