2001 (6) TMI 809

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..... tification cleared for home consumption on or after 1st day of April in any financial year by a manufacturer for one or more factories. In the case of first slab of clearance upto 30 lakhs, from the whole of duty of excise; from ₹ 30 lakhs to ₹ 50 lakhs exempts 10% from the appropriate rate of duty, and from ₹ 50 lakhs to ₹ 75 lakhs, exempts 5% from the appropriate duty. Th .....

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..... provides exemption on value of goods cleared and not on the quantum of the goods. hence, the respondents are entitled for deduction from the total value of clearances of ₹ 84,80,000/- (51,50,000/- + 33,30,000/-) upto an aggregate value of ₹ 75 lakhs and they do not have to pay the full duty. They have to pay duty at the normal rate on the value in excess of the concession limit of S .....

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