Excise Notification Amended: Exemption Limit Raised to 60 Lakh, New Declaration Requirements Effective April 1, 2005

The Central Board of Excise and Customs has amended Notification No. 36/2001-CE(N.T.), dated June 26, 2001, under Notification No. 14/2005-CE(N.T.), effective April 1, 2005. The amendment raises the exemption limit in the declaration form from ten lakh rupees to sixty lakh rupees. It also revises the declaration form and schedule format, requiring manufacturers to declare the truthfulness of the information provided and to apply for Central Excise Registration when the exemption limit is reached. The notification mandates maintaining records and procedures as specified by the Commissioner for exempted goods.

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