Capital goods exemption amended: packaging materials excluded and tariff-based product exclusions clarified under notification for inputs and final products The notification substitutes Explanation II to exclude packaging materials when an exemption on their excise duty is availed for packaging final products or when their cost is not included in the assessable value of final products, and replaces the annexed Table to list inputs and final products eligible while expressly excluding goods in Chapter 24, specified chemical and petroleum headings (except natural gasoline liquid), certain woven fabric chapters, and high speed diesel oil.
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Capital goods exemption amended: packaging materials excluded and tariff-based product exclusions clarified under notification for inputs and final products
The notification substitutes Explanation II to exclude packaging materials when an exemption on their excise duty is availed for packaging final products or when their cost is not included in the assessable value of final products, and replaces the annexed Table to list inputs and final products eligible while expressly excluding goods in Chapter 24, specified chemical and petroleum headings (except natural gasoline liquid), certain woven fabric chapters, and high speed diesel oil.
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