Exemption to textured polyester filament yarn falling under Heading No. 54.03 - 70/94 - Central Excise - Tariff

Exemption to textured polyester filament yarn falling under Heading No. 54.03

Notification No. 70/94-C.E.

Dated 16-3-1994

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excises and Salt Act, 1944 (1 of 1944) the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts textured polyester filament yarn falling under Heading No. 54.03 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) from so much of the duty of excise leviable thereon which is specified in the said Schedule as is in excess of the amount calculated at the rate of rupees three per kilogram :

Provided that the exemption contained in this notification shall be applicable only in respect of such textured yarn :-

(i) which was lying in stock with the manufacturer of textured polyester filament yarn as on the 1st day of March, 1994; or

(ii) which is manufactured out of such polyester filament yarn (non-textured) falling under Heading No. 54.02 of the said Schedule as is established to have been cleared from the factory of manufacture of such polyester filament yarn (non-textured) before the 1st day of March, 1994; or

(iii) which is manufactured out of imported polyester filament yarn (non-textured) falling under Heading No. 54.02 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) on which the additional duty leviable thereon under section 3 of the said Customs Tariff Act, has been paid at the rate of rupees sixty nine per kilogram :

Provided further that no credit of the duty paid on such polyester filament yarn (non-textured) has been availed of under Rule 56A of the Central Excise Rules, 1944.

2. This notification shall be in force upto and inclusive of the 30th day of April, 1994.