Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable and Other Goods) Rules, 2016-Security Bond Again Permitted
AS per Rule 4(5) of the Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable and Other Goods) Rules, 2016, notified by Notification No. , dated 01.03.2016, read as:
(5) The applicant manufacturer shall execute a general bond with surety or security:
This was amended by Notification No. , dated 15.03.2016 by which the words, "or security" were omitted; so the sub-rule would read as:
(5) The applicant manufacturer shall execute a general bond with surety:
Now, they have amended this Rule again yesterday to bring back the words, "or security". Now this sub-rule reads as:
(5) The applicant manufacturer shall execute a general bond with surety or security:
Two notifications and waste of tons of paper, we are back to where we started. This is how the Government works!
Notification No. ., Dated: September 26, 2016