Excise tariff amendments revise exemptions and replace specified rates with ad valorem or per tonne rates for iron and steel The Central Government, under section 5A(1) of the Central Excises and Salt Act, 1944, amends multiple Central Excise notifications for iron and steel (Chapters 72-74) by substituting the first proviso in one notification to exclude inputs used in manufacture of wholly exempt or nil rated final products (except FTZ or 100% EOUs), and by omitting, substituting or altering tariff entries and duty bases-including changing certain specific rupee per tonne charges to '10% ad valorem' and revising descriptions for painted/coated sheets, tubes and pipes, ingots, semi finished and re rollable materials.
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Excise tariff amendments revise exemptions and replace specified rates with ad valorem or per tonne rates for iron and steel
The Central Government, under section 5A(1) of the Central Excises and Salt Act, 1944, amends multiple Central Excise notifications for iron and steel (Chapters 72-74) by substituting the first proviso in one notification to exclude inputs used in manufacture of wholly exempt or nil rated final products (except FTZ or 100% EOUs), and by omitting, substituting or altering tariff entries and duty bases-including changing certain specific rupee per tonne charges to "10% ad valorem" and revising descriptions for painted/coated sheets, tubes and pipes, ingots, semi finished and re rollable materials.
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