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TMI BlogMATTER OF EXCISE BONDX X X X Extracts X X X X X X X X Extracts X X X X ..... MATTER OF EXCISE BOND X X X X Extracts X X X X X X X X Extracts X X X X ..... ond from 1 april 2016. sir plz tell me any solution regarding this.urgent QUERY sir Reply By surya narayana: The Reply: Dear Sir, In the latest Union Budget. new Removal of goods(under concession Rates of duty) Rules,2016 prescribed in the place of old Rules. In the new Rules, only self declaration is sufficient and permission from the Asst./Deputy Commissioner is not required. Hence , you may ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apply afresh in terms of new Rules and execute the required Bond instead of continuing with the old permission. Best regards Suryanarayana Reply By Ganeshan Kalyani: The Reply: I endorse the views submitted by Sri Surya Sir thanks. Reply By Rajeev Khulbe: The Reply: SIR. THANKS FOR YOUR VALUABLE REPLY. BUT SIR MY PROBLEM IS NOT REGARDING THE BOND PERMISSION. SIR MY QUERY IS THAT OUR COMPAN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Y WAS TAKE BOND AS ON 17-MARCH-2016 AS PER NEW AMENNDED NOTIFICATION 22/2016 CE N.T ( PREVIOUS NOTIFICATION 20/2016 CE) WE TAKE BOND UNDER NEW NOTIFICATION AS ON 17- MARCH -2016 NOT 12- MARCH-2016 SORRY FOR THAT . BUT SIR NOW EXCISE DEPARTMENT ARE SAYING THAT PLEASE SURRENDER YOUR BOND AND TAKE NEW BOND FROM 1-APRIL-2016. SO I WANT TO ASK YOU THAT ANY SOLUTION RAGARDING THIS THAT I CONTINUED MY TH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IS BOND FROM 1-APRIL-2016. Reply By surya narayana: The Reply: Dear Rajeev, The provisions of Rule 4 ( sub rule 1 to 5 ) of the Removal of goods (under concessional rate of duty) Rules,2016 specifies that.... a. The manufacturer intended to procure goods should number the intimation under sub-rule (1) Financial year wise b. should execute a general Bond with surety. The above provision does ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not specify any thing about execution of Bond Financial year wise except the financial year wise numbering on the intimation. In view of this , you may highlight this to your excise authorities and try to convince them. However, the duty involved in the goods proposed to be procured in the next financial year exceeds the value of the Bond already executed, you may have to execute either an addit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional Bond for the differential amount or to execute a fresh Bond cancelling the existing Bond. You may please check this aspect also.
Best Regards
Suryanarayana X X X X Extracts X X X X X X X X Extracts X X X X
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