|
Notification |
|
New Delhi, dated the 1st March, 2002
|
|
No.10
/ 2002-Central Excise
|
|
10 Phalguna, 1922 (Saka)
|
| |
|
|
|
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), the Central Government, being
satisfied that it is necessary in the public interest so to do, hereby
exempts excisable goods of the description specified in column (3) of the
Table below and falling within the Chapter, heading No. or sub-heading No.
of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986)
(hereinafter referred to as the Central Excise Tariff Act), specified in the
corresponding entry in column (2) of the said Table (hereinafter referred to
as the said goods), from so much of the duty of excise leviable thereon
under the First Schedule to the Central Excise Tariff Act, as is in excess
of the amount calculated at the rate specified in the corresponding entry in
column (4 ) of the said Table, subject to the following conditions, namely:-
|
|
(i) |
no credit of the duty
paid on
(a) inputs; or
(b) Capital goods exclusively, used in the manufacture of these goods has
been taken under rule 3 or rule 11 of the CENVAT
Credit Rules,
2002; and |
|
(ii) |
the duty is paid in
cash or through account current.
|
| |
|
|
|
|
Explanation I. For
the removal of doubts, it is clarified that a manufacturer who has availed of
full exemption under notification No. 8/2001-Central Excise, dated the 1st
March, 2001 or notification No. 8/2002-Central Excise, dated the 1st March,
2002, as the case may be, in any financial year, is permitted to avail this
exemption in the same financial year.
|
|
Explanation II. For the
purposes of this notification the “retail sale price” means the maximum price at
which the excisable goods in packaged form may be sold to the ultimate consumer
and includes all taxes, local or otherwise, freight, transport charges,
commission payable to dealers and all charges towards advertisement, delivery,
packing, forwarding and the like, as the case may be, and the price is the sole
consideration for such sale. |
|
Explanation III.
For the purposes of this notification, the rates specified in column (4) of the
said Table are ad valorem rates, unless otherwise specified. |