Notification No. 6/88-CE meaning of term 'year' [Chapters 54 & 55] - Central Excise - 345/5/87-TRU

Notification No. 6/88-CE meaning of term 'year' [Chapters 54 55] F.No. 345/5/87-TRU Dated 29-3-1988 Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Notification No. 6/88-CE meaning of term 'year' [Chapters 54 55] Doubts have been expressed regarding the scope of the term "Year" appearing in Notification No. 6/88-CE dated 19.1.1988, which grants exemption to fents and rags of man-made fabrics subject to a quantitative restriction of 5% of the total clearances of man-made fabrics from a factory in a year. The term "Year" means a year as per the British calendar, i.e. from the month of January to December.