9911796707
TMI BlogSeeks to further amend Central Excise Rules, 2002X X X X Extracts X X X X X X X X Extracts X X X X ..... of rule 2 , rule 3 , rule 4 and rule 7 , which shall come into force from the 1st of March, 2016 and the provisions of clause (v) of rule 5 and rule 6, which shall come into force from such date as the Central Government may, by notification, specify. 2. In the Central Excise Rules, 2002 (hereinafter referred to as the said rules), in rule 7 , for sub-rule (4), the following sub-rule shall be substituted, namely:- (4) The assessee shall be liable to pay interest on any amount paid or payable on the goods under provisional assessment, but not paid on the due date specified under sub-rule (1) of rule 8 and the first proviso thereto, as the case may be, at the rate specified by the Central Government, vide, notification u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lusive of articles of silver jewellery studded with diamond, ruby, emerald or sapphire, falling under chapter heading 7113 of the First Schedule of the Tariff Act shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees twelve crore; (b) an assessee, other than (a) above, shall be eligible, if his aggregate value of clearances of all excisable goods for home consumption in the preceding financial year, computed in the manner specified in the said notification, did not exceed rupees four hundred lakhs. . 4. In the said rules, in rule 11 , in sub-rule (8), in the proviso, the wor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... use (a) of that sub-rule, may submit a revised return within a period of one month from the date of submission of the said Annual Return. 6. In the said rules, in rule 17 , after sub-rule (6), the following sub-rule shall be inserted, namely:- (7) An assessee, who has filed a return in the form referred to in sub-rule (3) within the date specified under that sub-rule, may submit a revised return by the end of the calendar month in which the original return is filed. Explanation.- Where an assessee submits a revised return under this sub-rule, the relevant date for the purpose of recovery of Central Excise duty, if any, under section 11A of the Act shall be the date of submission of such revised return ; 7. In the said ru ..... X X X X Extracts X X X X X X X X Extracts X X X X
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