Regional exemptions – J&K Gets extended with more value addition rates
REMEMBER the confusing “value addition” based; refund based; area based; exemption Notifications? Have a look at 31.03.2008. There are eight Central Excise notifications pertaining to various regions like North east, J&K etc,. The exemption works by a complicated system of refund of “the duty payable on value addition undertaken in the manufacture of the said goods by the said unit”. In effect, what is exempted is the duty paid on “value addition”.
Now the notification No. , DATED: November 14, 2002 for Jammu and Kashmir was for a period of ten years from 14.11.2002 or from commercial production whichever is later. Now it is available for another ten years from 6.2.2010 or commercial production whichever is later.
What about the other notifications for the other regions? Maybe they are also being renotified/already notified. We hope to find out soon.
NOTIFICATION NO. , Dated : February 6, 2010