Central Excise Rules, 1944 - Fourth Amendment of 1998

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.... (a) under the heading "I. Total amount of duty liability for the period from the 1st day of September, 1997 to the 31st day of March, 1998", for clause (c), the following clause shall be substituted, namely :- "(c) if a manufacturer fails to pay the total amount of duty payable under clause (a) by the 31st day of March, 1998, he shall be liable to, - (i) pay the outstanding amount of duty (that is the amount of duty which has not been paid by the 31st day of March, 1998) along with interest at the rate of eighteen per cent per annum on the outstanding amount, calculated for the period from the 1st day of April, 1998 till the date of actual payment of the outstanding amount; and (ii) a penalty equal to such outstanding amount of....

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....also that where a manufacturer fails to pay the whole of the amount payable for any month by the 15th day or the last day of such month, as the case may be, he shall be liable to, - (i) pay the outstanding amount of duty along with interest thereon at the rate of eighteen per cent per annum, calculated for the period from the 16th day of such month or the 1st day of next month, as the case may be, till the date of actual payment of the outstanding amount; and (ii) a penalty equal to such outstanding amount of duty or five thousand rupees, whichever is greater."; (ii) in rule 96ZP, - (A) in sub-rule (1), - (a) under the heading "I. Total amount of duty liability for the period from the 1st day of September, 1997 to the 31st da....

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.... duty or five thousand rupees, whichever is greater."; (B) after sub-rule (1), the following sub-rule shall be inserted, namely :- "(1A) If any manufacturer removes any of the non-alloy steel hot re-rolled products specified in sub-rule (1) without complying with the requirements of that sub-rule, then all such goods shall be liable to confiscation and the manufacturer shall be liable to a penalty not exceeding three times the value of such goods, or five thousand rupees, whichever is greater."; (C) in sub-rule (3), for the third proviso, the following proviso shall be substituted, namely :- "Provided also that where a manufacturer fails to pay the whole of the amount payable for any month by the 10th day of such month, he shall....