Assessees in international bidding can opt for either exemption or refund for terminal excise duty reliefs.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Refund of terminal excise duty (TED) - international competitive bidding - Deemed Exports - There are several situation were duel reliefs are extended to an assessee, both of an exemption as well as of refund. In a case where both reliefs are available, the option to select the relief of its choice vests with the assessee.....