Excise duty exemption for fireworks limited to duty exceeding a prescribed ad valorem rate under statutory notification. A notification exempts fireworks under sub heading 3604.10 from that portion of excise duty which exceeds an amount calculated at a specified ad valorem rate, thereby capping the taxable liability for those fireworks at the prescribed ad valorem benchmark.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Excise duty exemption for fireworks limited to duty exceeding a prescribed ad valorem rate under statutory notification.
A notification exempts fireworks under sub heading 3604.10 from that portion of excise duty which exceeds an amount calculated at a specified ad valorem rate, thereby capping the taxable liability for those fireworks at the prescribed ad valorem benchmark.
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