Excise exemption for plastics-coated textile fabrics limited by annual clearance and prior year turnover cap threshold. The notification exempts textile fabrics impregnated, coated, covered or laminated with plastics by restricting excise duty to an amount calculated at fifty per cent of the rate leviable under the Schedule, subject to aggregate first clearances for home consumption not exceeding three lakhs square metres in a financial year and excludes the exemption where aggregate clearances had exceeded a specified high-value turnover in the preceding financial year.
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Provisions expressly mentioned in the judgment/order text.
Excise exemption for plastics-coated textile fabrics limited by annual clearance and prior year turnover cap threshold.
The notification exempts textile fabrics impregnated, coated, covered or laminated with plastics by restricting excise duty to an amount calculated at fifty per cent of the rate leviable under the Schedule, subject to aggregate first clearances for home consumption not exceeding three lakhs square metres in a financial year and excludes the exemption where aggregate clearances had exceeded a specified high-value turnover in the preceding financial year.
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