Wait...
  1. Home >
  2. Exim >
  3. CENTRAL-EXCISE-MANUAL

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Compounded Levy on Independent Textile Processors, the scheme of compounded levy of duty on basis of hot air stenters with an independent textile manufacturer.


Part-III
COMPOUNDED LEVY ON INDEPENDENT TEXTILE PROCESSORS

  1. Introduction

    1.1 The scheme of compounded levy of duty on basis of hot air stenters with an independent textile manufacturer has been introduced effect from 1st May, 2001 by Notifications No. 16/2001-Central Excise (N.T.) and No.21/2001- Central Excise, both dated 30.4.2001.

    1.2 The scheme of compounded levy is optional. Thus, an independent textile processor has the option of availing this scheme and paying the duty prescribed thereunder. In the alternative the processor may pay the duty at the specified rate of duty on the basis of the value of the goods produced.
  2. Rate of compounded levy

    2.1 The rate of duty under the compounded levy scheme is, as follows:
    Value of Processed Textile Fabrics Rate of compounded duty Per stenter per chamber
    Upto and including Rs. 30 per sq. meter Rs. 2.5 lakhs per month
    Over Rs. 30 per sq. meter Rs.3 lakhs per month

    2.2 The 50% of the compounded duty has to be paid by the 20th. of the month and the balance 50% by the 5th of the succeeding month.
  3. Salient features of compounded levy scheme

    3.1 The eligibility conditions for availing the scheme are:
    1. The scheme does not apply to open air stenter. It applies only to hot air stenters.
    2. The scheme can be availed only if the original value of investment on plant and machinery, duly certified by a Chartered Accountant of Cost Accountant, in the factory of the processor is not more than Rs.3 crore. For this purpose, the higher of the original value of the investment on plant and machinery that was installed as on 1.3.2001 and as installed on 1.5.2001 in the factory of processor is to be taken into account.
    3.2 An independent processor, who is eligible for availing of the scheme, has to apply for exercising the option through an application to be submitted to the jurisdictional Commissioner of Central Excise by the 20th May, 2001. However, should he commence business subsequently, he should apply before the commencement of the production.

    3.3 Once the option has been exercised for the scheme, and accepted by the Commissioner of Central Excise, it can not be withdrawn during the remaining part of the financial year.

    3.4 No abatement if available on account of any reduction in stenter or chambers or on account of closure or absence of use of the same. The duty liability would remain unchanged during the period of option of the scheme i.e. the financial year. However, should all the manufacturing operations in the factory be closed for more than 30 days abatement is permissible.

    3.5 In the event that after application and acceptance thereof any enhancement is made in the number of chambers the duty liability would get enhanced for the balance part of the financial year.

    3.6 The applicant availing the scheme has to do the stentering in his factory itself.

    3.7 Detailed instructions regarding the valuation of processed fabric and other procedure have been issued from F.No.B.4/6/2001-TRU dated 30.4.2001, which will apply, mutatis mutandis, under the Central Excise (No.2) Rules, 2001.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 21-02-2020
Trade Notice No. 51/2019-20-DGFT
One-time relaxation for submission of hard copy of applications for claiming assistance under TMA for Specified Agriculture Products Scheme

Date: 20-02-2020
Notification No.15/2020 - Customs (N.T.)
Exchange Rates Notification No.15/2020-Custom(NT) dated 20.02.2020

Date: 19-02-2020
Public Notice No. 64/2015-2020
Amendment of Para 2.54 (d)(v)iv in Handbook of Procedures, 2015-2020.

Date: 18-02-2020
Public Notice No. 63/2015-20-DGFT
Proforma of Undertaking in the form of Legal Agreement for grant of permission for export/re-export of items under SCOMET Control List for repair/replacement and display/exhibition/tender purposes

Date: 14-02-2020
PUBLIC NOTICE No. 62/2015-2020
Amendments to remove the pre-export conditions for the items mentioned against SIONs E-121, E-122, E-123, E-124, E-127 and E-128.

Date: 14-02-2020
Notification No. 14/2020-Customs (N.T.)
Notification no 14/2020-Custom(N.T.) dated 14.02.2020

Date: 14-02-2020
Notification No. 13/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg

Date: 14-02-2020
Notification No. 14/2020 - Customs
Notification regarding exemption of duties of Customs against scrips issued under the 2% Additional ad hoc incentive for mobile phones.

Date: 14-02-2020
TRADE NOTICE NO. 50/2019-20
Applicability of Minimum Import Price on Import of Cashew Kernels for SEZ/EoU units

Date: 11-02-2020
Trade Notice No. 49/2019-20
Policy to keep control on exporters using self certified system for EU-GSP Registered Exporter System



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001