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Seeks to further amend Central Excise Rules 2002

Central Excise - 08/2016 - Dated:- 1-3-2016 - GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 8/2016- Central Excise (N.T) New Delhi, dated the 1st March, 2016 G.S.R. 239 (E). - In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Central Excise Rules, 2002, namely:- 1. (1) These rules may be called the Central Excise (Amendment) Rules, 2016. (2) .....

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essee shall be liable to pay interest on any amount paid or payable on the goods under provisional assessment, but not paid on the due date specified under sub-rule (1) of rule 8 and the first proviso thereto, as the case may be, at the rate specified by the Central Government, vide, notification under section 11AA of the Act, for the period starting with the first day after the due date till the date of actual payment, whether such amount is paid before or after the issue of order for final ass .....

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on goods as ₹ 15000, and consequently the assessee pays a duty of ₹ 1000 on the 30th June, 2015, then no interest shall be payable on ₹ 5000, interest shall be payable on ₹ 9000 from the 7th February, 2015, till the 15th April, 2015, and interest shall be payable on ₹ 1000 from the 7th February, 2015, till the 30th June, 2015 as due date for payment of duty of ₹ 15000 is the 6th February, 2015. . 3. In the said rules, in rule 8, in the second proviso, for Expl .....

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ods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees twelve crore; (b) an assessee, other than (a) above, shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees four hundred lakhs. . 4. In the said rules, in rule 11, in sub-rule (8), in the proviso, the w .....

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rule and clause (b) of sub-rule (8) shall mutatis mutandis apply to a hundred per cent. Export- Oriented Unit. ; (iii) sub-rule (2A) shall be omitted; (iv) in sub-rule (6), the words or Annual Financial Information Statement or Annual Installed Capacity Statement shall be omitted; (v) after sub-rule (7), the following sub-rule shall be inserted, namely:- (8)(a) An assessee, who has filed a return in the form referred to in sub-rule(1) within the date specified under that sub-rule or the second p .....

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