Specified duty credit use limited to corresponding excise heads; FTZ and export unit credits capped by equivalent additional duty. The notification substitutes definitions to exclude motor spirit and high speed diesel from eligible inputs and identifies specified non alloy steel ingots, billets and hot re rolled products as inputs and final products. It permits utilisation of credit of specified duty for payment of excise only under sub rule (12) of rule 57F subject to restrictions tying credit use to the corresponding legislative duty heads, and limits credit for inputs from free trade zones or export oriented/park units to the extent of equivalent additional duty under the Customs Tariff Act. An exclusion for independent texturisers lacking partially oriented yarn manufacture is added.
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.
Specified duty credit use limited to corresponding excise heads; FTZ and export unit credits capped by equivalent additional duty.
The notification substitutes definitions to exclude motor spirit and high speed diesel from eligible inputs and identifies specified non alloy steel ingots, billets and hot re rolled products as inputs and final products. It permits utilisation of credit of specified duty for payment of excise only under sub rule (12) of rule 57F subject to restrictions tying credit use to the corresponding legislative duty heads, and limits credit for inputs from free trade zones or export oriented/park units to the extent of equivalent additional duty under the Customs Tariff Act. An exclusion for independent texturisers lacking partially oriented yarn manufacture is added.
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