https://www.taxtmi.com/caselaws?id=347034 A compounded levy declaration made under the original scheme did not remain effective after the scheme was substituted from 1 September 1997. The substituted Rule 96ZP required a fresh and valid option, and the earlier declaration was treated as tied to the superseded regime, defective in form, and not a valid election for the new provisions. Because the assessee proceeded on the basis of actual production after substitution, duty was required to be determined on actual production under the normal scheme, with adjustment of any excess payment. The demand under the compounded levy scheme was set aside and the matter remanded for recomputation accordingly. en-us Tue, 10 Jan 2017 00:00:00 +0530 Fri, 09 Feb 2018 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347034 A compounded levy declaration made under the original scheme did not remain effective after the scheme was substituted from 1 September 1997. The substituted Rule 96ZP required a fresh and valid option, and the earlier declaration was treated as tied to the superseded regime, defective in form, and not a valid election for the new provisions. Because the assessee proceeded on the basis of actual production after substitution, duty was required to be determined on actual production under the normal scheme, with adjustment of any excess payment. The demand under the compounded levy scheme was set aside and the matter remanded for recomputation accordingly. Case-Laws Central Excise Tue, 10 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347034