Amendments in the NOTIFICATION NO. 08/2004-CE, DT. 21/01/2004 so as to provide for opening of escrow account for deposit of duties of excise, for which exemption has been claimed

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....ow account for deposit of duties of excise, for which exemption has been claimed  NOTIFICATION NO. 28/2004-CE   DATED 09/07/2004 G.S.R (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) ....

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....ional Calamity Contingent Duty, payable in a quarter, but for the exemption under this notification, shall be deposited by the manufacturer, within sixty days from the end of the quarter, in an escrow account opened by the manufacturer, for this purpose, in a bank authorized for excise duty collection; (ii) operations including withdrawals from and closure of the said escrow account shall be ma....

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....n terms of clause (i), shall be invested, in the manner specified in condition (B), within two years from the date of its deposit in such account; (v) the amounts withdrawn from the escrow account shall be invested for the purposes specified in condition (B) within sixty days of its withdrawal from such account;   (D) the manufacturer shall,-   (i) submit a quarterly statement, wi....

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....urposes specified in condition (B); (E) if the Committee referred to in condition (D) is satisfied that the investment as specified in condition (B), has been made, it shall issue a certificate to this effect to the manufacturer within a period of one month from the receipt of the details as referred to in condition (D), and on the issuance of which, the liability of the manufacturer shall stan....