Exemption to articles intended to become permanent magnets falling under Heading 85.05 during 1-3-1986 to 15-11-1988 - 48/90 - Central Excise - Non Tariff

Exemption to articles intended to become permanent magnets falling under Heading 85.05 during 1-3-1986 to 15-11-1988

Notification No. 48/90-C.E. (N.T.)

Dated 15-11-1990

Whereas the Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof) under the Central Excises and Salt Act, 1944 (1 of 1944), the duty of excise on articles intended to become permanent magnets, falling under heading No. 85.05 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), was not being levied at the rates specified under heading 85.05 during the period commencing on the 1st day of March, 1986 and ending with the 15th day of November, 1988, under section 3 of the first mentioned Act;

Now, therefore, in exercise of the powers conferred by section 11C of the first mentioned Act, the Central Government hereby directs that the whole of the duty of excise or as the case may be, the portion of the duty of excise as is in excess of the duty payable on permanent magnets under notification of the Government of India in the Ministry of Finance, Department of Revenue No. 160/86-C.E., dated the 1st March, 1986, as amended from time to time, payable under the said Act, on articles intended to become permanent magnets, but for the said practice shall not be required to be paid in respect of such articles intended to become permanent magnets on which the said duty of excise was not levied during the period aforesaid in accordance with the said practice.