https://www.taxtmi.com/caselaws?id=349546 Under the compounded levy scheme in Rule 96ZO and Rule 96ZP, a later option to pay duty on actual production basis for financial year 1998-99 was treated as valid because the rules did not prescribe a time limit for opting out, and actual production for a completed period could be determined only after that period ended. The earlier declaration for the prior period was not mechanically extended to the later year. Interest was also held unsustainable because the enabling provision did not expressly authorise it, and the mandatory penalty was set aside as the relevant penalty rules had been held ultra vires. Duty was therefore directed to be recalculated on actual production basis, with interest and penalty quashed. en-us Thu, 14 Sep 2017 00:00:00 +0530 Mon, 30 Apr 2018 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349546 Under the compounded levy scheme in Rule 96ZO and Rule 96ZP, a later option to pay duty on actual production basis for financial year 1998-99 was treated as valid because the rules did not prescribe a time limit for opting out, and actual production for a completed period could be determined only after that period ended. The earlier declaration for the prior period was not mechanically extended to the later year. Interest was also held unsustainable because the enabling provision did not expressly authorise it, and the mandatory penalty was set aside as the relevant penalty rules had been held ultra vires. Duty was therefore directed to be recalculated on actual production basis, with interest and penalty quashed. Case-Laws Central Excise Thu, 14 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349546