CA Bimal Jain
In the exercise of the power conferred under Section 5A(1) of the Excise Act read with Section 3(3) of the Additional Duties of Excise (Goods of Special Importance), 1957 and Section 3(3) of the Additional Duties of Excise (Textile and Textile Article) Act, 1978, the Central Government has issued Notification No. 19/ 2015 – Central Excise dated April 1, 2015, making due amendment in Notification No. 33/2012-Central Excise, dated July 9, 2012 wherein the Government has exempted the Capital goods specified in the First schedule and Second Schedule to the Excise Tariff Act, when cleared against a Status Holder Incentive Scheme duty credit scrip issued to a Status Holder by the Regional Authority in accordance with paragraph 3.16 of the Foreign Trade Policy from:
Now, in the above stated Notification, in paragraph 2, in condition (a), for the second proviso, new proviso has been substituted stipulating the necessary conditions for availing exemption.
(Bimal Jain, FCA, FCS, LLB, B.Com (Hons), Mobile: +91 9810604563, Email: firstname.lastname@example.org)