Exemption Limit enhanced to Rs. 1 crore from Rs. 50 lacs

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..... SI.No. Notification No. and date Amendment (1) (2) (3) 1. Ntf. No. 8/2000-CE, dated the 1st March, 2000 In the said notification, - (i) in the Table, - (a) against SI.No. 1, in column (2), - (I) for the words "fifty lakh rupees", the words "one hundred lakh rupees" shall be substituted, (II) the following proviso shall be inserted at the end namely:- "Provided that if any clearances for home consumption have been made before the 1st day of September, 2000 under this notification during the financial year 2000-2001 , whether at nil rate or otherwise the aggregate value of such clearances shall be taken into account for computing the limit of one hundred lakh rupees". (b) SI.No. 2 and the entries relating thereto shall .....

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..... und of duty paid at the concessional rate of five per cent on any clearances made before the 1st day of September 2000 e on the ground that such clearances are included in the aggregate value of clearances under SI.No. 1 of the TABLE, shall not be admissible." 2. Ntf. No. 9/2000-CE, dated the 1st March, 2000 In the said notification, - (i) in the TABLE, (a) against SI.No. 1 in column (2), - (I) for the words "fifty lakh rupees", the words "one hundred lakh rupees" shall be substituted; (II) the following proviso shall be inserted at the end namely, - "Provided that if any clearances for home consumption have been made before the 1st day of September 2000, whether at nil rate or otherwise, the aggregate value of such clearances .....

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..... additional clearances upto an aggregate value of forty lakh rupees, at the concessional rate of sixty per cent of normal duty, during the remaining part of the financial year 2000-2001. Illustration 3.As on the 31st day of August, 2000, a manufacturer has made clearances of an aggregate value of one hundred and ten lakh rupees, comprising of fifty lakh rupees at the concessional rate of sixty per cent of normal duty, fifty lakh rupees at the concessional rate of eighty per cent of the normal duty and ten lakh rupees at the normal rate of duty. He shall not be entitled to any exemption under this notification during the remain in art of the financial ear 2000-2001. (iii) in paragraph 2, Illustrations I, II, III and IV, shall be omitted. .....

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