Excise exemption for polyvinyl alcohol: duty capped where produced from vinyl acetate monomer with duty paid on the precursor. Central government exempts Polyvinyl Alcohol from excise duty in excess of an amount calculated at a specified ad valorem rate when manufactured from Vinyl Acetate Monomer. The exemption applies only if the Vinyl Acetate Monomer used has had the appropriate excise or additional duty paid, making payment on the precursor a precondition to the reduced effective duty on the finished product.
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Provisions expressly mentioned in the judgment/order text.
Excise exemption for polyvinyl alcohol: duty capped where produced from vinyl acetate monomer with duty paid on the precursor.
Central government exempts Polyvinyl Alcohol from excise duty in excess of an amount calculated at a specified ad valorem rate when manufactured from Vinyl Acetate Monomer. The exemption applies only if the Vinyl Acetate Monomer used has had the appropriate excise or additional duty paid, making payment on the precursor a precondition to the reduced effective duty on the finished product.
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