Duty scheme for independent textile processors requires monthly advance payment, strict records, interest and confiscation penalties. An alternative fixed duty procedure requires an independent processor of specified processed textile fabrics to debit a prescribed duty per stenter chamber based on annual capacity, record it in the account current, and pay it in advance monthly by the stated date; processors must maintain prescribed production and stock records. Nonpayment attracts interest on outstanding duty and a penalty equal to the outstanding amount or a minimum statutory sum; unauthorized removal of goods risks confiscation and a penalty up to three times the goods' value or a minimum statutory amount. Abatement for continuous stenter closure is available subject to prior notices, sealing, Commissioner's order and prescribed reopening formalities.
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.
Duty scheme for independent textile processors requires monthly advance payment, strict records, interest and confiscation penalties.
An alternative fixed duty procedure requires an independent processor of specified processed textile fabrics to debit a prescribed duty per stenter chamber based on annual capacity, record it in the account current, and pay it in advance monthly by the stated date; processors must maintain prescribed production and stock records. Nonpayment attracts interest on outstanding duty and a penalty equal to the outstanding amount or a minimum statutory sum; unauthorized removal of goods risks confiscation and a penalty up to three times the goods' value or a minimum statutory amount. Abatement for continuous stenter closure is available subject to prior notices, sealing, Commissioner's order and prescribed reopening formalities.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
