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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendments to Central Excise Rules: Rule 8 Penalizes Late Payments, Rule 12 Enhances Duty Assessment, Rule 22 Requires Record Verification.</h1> The Central Government has amended the Central Excise Rules, 2002, effective from April 1, 2005. Key changes include revisions to rule 8, where failure to pay duty by the due date will incur interest, and default beyond 30 days results in forfeiture of monthly installment privileges for two months. Rule 12 introduces scrutiny of duty assessments based on returns filed. Rule 22 mandates that assessees and dealers provide detailed records of transactions, inputs, and financial statements for verification. Definitions for 'first stage dealer' and 'second stage dealer' are clarified as per the CENVAT Credit Rules, 2004.
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