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1996 (11) TMI 74 - SC - Central ExciseDemand of duty on yarn - Held that:- In view of the fact that an excisable item comes into existence with the manufacture of a single ply yarn it becomes liable to pay excise duty at that stage itself. The respondent cannot be allowed to contend that the levy of excise duty is postponed to a point of time when the yarn is removed after doubling or multifolding. The liability to pay excise duty arises at the first stage itself, namely, at the time of manufacture of single ply yarn. This being so the demand raised by the Assistant Collector was not invalid. Against assessee & would be liable to pay the aforesaid amount of ₹ 35,190.96 plus interest the rate of twelve per cent per annum thereon.
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