Seeks to amend Notification No. 20/2016-CE (NT) dated 01.03.2016 [Central Excise (Removal of Goods at Concessional Rate of Duty for manufacture of Excisable and other Goods) Rules, 2016]
AS per Rule 4(5) of the Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable and Other Goods) Rules, 2016, (Notification No. 20/2016-CENT, dated 01.03.2016), the applicant manufacturer was required to execute a general bond with surety or security. The words “or security” were later removed vide Notification No. 22/2016-CENT, dated 15.03.2016 and only surety was required to execute a general bond.
Now, Central Government vide Notification No. 46/2016-CE(NT) dated 26.09.2016 has again added the words “or security” getting the situation back to starting point i.e. the applicant manufacturer is required to execute a general bond with surety or security.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, the 26th September, 2016
Notification No. 46/2016 – Central Excise (N.T.)
G.S.R.— (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 (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable and Other Goods) Rules, 2016, namely:–
In the said rules. in rule 4, in sub-rule (5), after the word “surety”, the words, or security” shall be inserted.
F. No, 201/10/2016-CX.6
(Shankar Prasad Sarma)
Under Secretary to the Government of India
Note: – The principal notification No. 20/2016-Central Excise (N.T.), dated the 1st March, 2016 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 251(E), dated the 1st March, 2016 and last amended by Notification No. 22/2016-CE (NT) dated 15th March, 2016 vide number G.S.R. 307(E), dated the 15th March, 2016.
