Option to pay excise duty on notified basis with conditions; returned goods require CENVAT repayment or duty payment. The amendment empowers the Central Government to notify an option to pay the duty for specified goods allowing assessees to pay duty on notified factors and rates subject to conditions, interest and penalty. It also provides that if processes on returned goods do not amount to manufacture the manufacturer must repay the CENVAT credit taken; otherwise duty is payable on returned goods at the applicable rate and on valuation determined under the Act.
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.
Option to pay excise duty on notified basis with conditions; returned goods require CENVAT repayment or duty payment.
The amendment empowers the Central Government to notify an option to pay the duty for specified goods allowing assessees to pay duty on notified factors and rates subject to conditions, interest and penalty. It also provides that if processes on returned goods do not amount to manufacture the manufacturer must repay the CENVAT credit taken; otherwise duty is payable on returned goods at the applicable rate and on valuation determined under the Act.
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