1st August, 2006.
Notification No. 17/2006-Central Excise (N.T.)Online GST Certification Course by TaxGuru & MSME- Click here to Join
G.S.R. (E) – In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) read with clause (b) of sub-rule (2) of rule 12 of the Central Excise Rules, 2002 and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 35/2004-Central Excise (N.T.) dated the 1st November 2004, G.S.R. 725(E) dated the 1st November 2004, the Central Government, being satisfied that it is necessary and expedient in the public interest so to do, hereby exempts the following assessee or class of assessee from the operation of clause (a) of sub-rule (2) of rule 12 of the said Central Excise Rules, namely:-
(i) assessee who paid duty of excise less than one hundred lakh rupees from account current during the financial year to which Annual Financial Information Statement relates;
(ii) Indian Ordnance Factories, Department of Defence Production, Ministry of Defence.