Credit of duty on ethyl alcohol: prescribed excise credit for use in manufacture, subject to notified price and limited utilisation. Credit is permitted for duty on Ethyl Alcohol used as raw material in the manufacture of specified finished excisable goods listed in the Table, at a prescribed monetary rate per unit. The credit is restricted to indigenous Ethyl Alcohol purchased at the notified price, with an in house molasses production exception tied to a separate notified price. Credits taken in a calendar month become utilisable only after the start of the following month and may be applied exclusively against duty on the listed final products; any excess credit is not refundable nor usable for other goods.
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.
Credit of duty on ethyl alcohol: prescribed excise credit for use in manufacture, subject to notified price and limited utilisation.
Credit is permitted for duty on Ethyl Alcohol used as raw material in the manufacture of specified finished excisable goods listed in the Table, at a prescribed monetary rate per unit. The credit is restricted to indigenous Ethyl Alcohol purchased at the notified price, with an in house molasses production exception tied to a separate notified price. Credits taken in a calendar month become utilisable only after the start of the following month and may be applied exclusively against duty on the listed final products; any excess credit is not refundable nor usable for other goods.
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