2001 (6) TMI 809

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....ended, exempts goods specified in the Annexure to the Notification cleared for home consumption on or after 1st day of April in any financial year by a manufacturer for one or more factories. In the case of first slab of clearance upto 30 lakhs, from the whole of duty of excise; from ₹ 30 lakhs to ₹ 50 lakhs exempts 10% from the appropriate rate of duty, and from ₹ 50 lakhs to &#....

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....een held that Notification No. 175/86 CE dated 1.3.86 provides exemption on value of goods cleared and not on the quantum of the goods. hence, the respondents are entitled for deduction from the total value of clearances of ₹ 84,80,000/- (51,50,000/- + 33,30,000/-) upto an aggregate value of ₹ 75 lakhs and they do not have to pay the full duty. They have to pay duty at the normal rate ....