Compounded levy per cold rolling machine lets manufacturers discharge excise liability by paying fixed monthly sums under procedural conditions. Notification permits manufacturers of stainless steel pattis/pattas and aluminium circles produced on cold rolling machines to discharge excise liability by paying a fixed monthly sum per cold rolling machine, with no CENVAT credit allowed for inputs, components, machinery or finished products used in such cold rolling. Permission is obtained by application and payment in advance; the payable sum is calculated by applying the prescribed rate to the maximum number of cold rolling machines installed during the three calendar months immediately preceding the application month, with prorata treatment for the initial month and recalculation on rate revision.
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.
Compounded levy per cold rolling machine lets manufacturers discharge excise liability by paying fixed monthly sums under procedural conditions.
Notification permits manufacturers of stainless steel pattis/pattas and aluminium circles produced on cold rolling machines to discharge excise liability by paying a fixed monthly sum per cold rolling machine, with no CENVAT credit allowed for inputs, components, machinery or finished products used in such cold rolling. Permission is obtained by application and payment in advance; the payable sum is calculated by applying the prescribed rate to the maximum number of cold rolling machines installed during the three calendar months immediately preceding the application month, with prorata treatment for the initial month and recalculation on rate revision.
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