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of <h1>New Excise Duty Exemption for Fabrics and Yarns: Key Conditions and 25 Lakh Rupees Clearance Limit Explained</h1> Notification No. 06/2004-CE, dated January 19, 2004, issued by the Central Government under the Central Excise Act, 1944, supersedes Notification No. 35/2003-CE. It provides exemptions from excise duty for specified clearances of certain fabrics and yarns, subject to conditions. The exemptions apply to the first clearances up to an aggregate value of 25 lakh rupees, with specific provisions for clearances within the factory or by multiple manufacturers. The notification outlines conditions for exemption eligibility, including aggregate clearance limits and documentation requirements. Manufacturers can opt out of the exemption, and specific rules apply for job work and aggregate value calculations.
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