In notification number 2/2008 and in some other notifications, the phrase "from so much of the duty of excise leviable thereon as ......." has been used to impose a rate of duty (14% in the aforesaid notification).
I wonder why they do not simply write 14% adveloram whatever other figure they want to impose instead of using the above phrase?
Any one interested in such trivia?
if u can read the fine meaing of the notification, there are several rates in past, and in tarriff book still 16% is going on when the peak rate is 10%
so the meaning is to fix the peak rate for the item with the condition cited thereon in notification or unconditionally,as the case may be, so that the manufacturer availing benefit of notification can use the same with easy way.
such as "water pumps" when clered in general are at peak rate but when cleared as "agro pumps" then they have reduced tariff, so if the pumps supply has complied the condition then only "so much in excess of .........." will apply, otherwise normal rates are applied.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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