Manner of payment in respect of speci­fied goods on which excise duty has been imposed with effect from 1st March, 2002

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....l be deemed to have been discharged only if the amount payable is credited to the account of the Central Government by the specified date. (2) The duty of excise shall be deemed to have been paid for the purposes of these rules on the excisable goods removed in the manner provided under sub-rule (1) and the credit of such duty allowed, as provided by or under any rule. (3) If the assesssee fails to pay the amount of duty by due date, he shall be liable to pay the outstanding amount along with interest at the rate specified by the Central Government vide notification issued under 1[section 11AA] of the Act on the outstanding amount, for the period starting with the first day after due date till the date of actual payment of the outstanding....

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....anite falling under heading No. 68.07 manufactured by units which would have been eligible for exemption from duty whether in whole or in part under notification No. 8/2001-Central Excise or No. 9/2001-Central Excise, dated the 1st March, 2001, as they existed before 1st March, 2002 and granite failling under heading No. 68.07 manufactured by units which would have been eligible for exemption whether in whole or in part if such exemption had not been withdrawn under Notification No. 8/2002-Central Excise or, as the case may be, under Notification No. 9/2002-Central Excise, both dated the 1st March, 2002. (3) Woven fabrics of cotton, falling under Chapter 52, when subjected to any one or more of the following processes, namely :- (a) fla....