Excise exemption for specified goods: tiered, value-based relief for clearances subject to aggregation and declaration conditions. Exemption grants staged, value-based relief for clearances of sixty-eight specified excisable goods between 1 April 1985 and 31 March 1986: full exemption for initial clearances up to a prescribed aggregate value and graduated partial exemptions for subsequent clearance bands, with aggregation computed separately by serial number. Relief is unavailable if prior-year aggregate clearances of all excisable goods exceeded a prescribed ceiling; late-start manufacturers may obtain exemption on filing a declaration and subject to year-end aggregate limits. Valuation, exclusions for nil-rated or other exempt clearances, intra-factory input usages, and specific kiln-firing valuation rules are prescribed.
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 exemption for specified goods: tiered, value-based relief for clearances subject to aggregation and declaration conditions.
Exemption grants staged, value-based relief for clearances of sixty-eight specified excisable goods between 1 April 1985 and 31 March 1986: full exemption for initial clearances up to a prescribed aggregate value and graduated partial exemptions for subsequent clearance bands, with aggregation computed separately by serial number. Relief is unavailable if prior-year aggregate clearances of all excisable goods exceeded a prescribed ceiling; late-start manufacturers may obtain exemption on filing a declaration and subject to year-end aggregate limits. Valuation, exclusions for nil-rated or other exempt clearances, intra-factory input usages, and specific kiln-firing valuation rules are prescribed.
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