Exemption limit increase for central excise doubles previous cap; prior clearances count toward new ceiling and refunds barred. The notification increases the central excise exemption limit by substituting the earlier fifty lakh threshold with a higher aggregate ceiling and directs that clearances made before the effective date shall be counted toward that ceiling. It adds illustrative examples on how prior clearances at nil, concessional or normal rates affect the remaining duty free entitlement during the financial year and inserts a clause barring refunds or duty adjustments for clearances included in the aggregate computation.
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Exemption limit increase for central excise doubles previous cap; prior clearances count toward new ceiling and refunds barred.
The notification increases the central excise exemption limit by substituting the earlier fifty lakh threshold with a higher aggregate ceiling and directs that clearances made before the effective date shall be counted toward that ceiling. It adds illustrative examples on how prior clearances at nil, concessional or normal rates affect the remaining duty free entitlement during the financial year and inserts a clause barring refunds or duty adjustments for clearances included in the aggregate computation.
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