CIR NO. 34/1997-CUS Dated 10-09-1997
- Document type
- Circular
- Reference no.
- C
- Dated
No exemption to duty assessed in excess of credit in Passbook/DEPB
- Sub:
- Clarification regarding the interpretation of proviso to condition 3 of the Notfn. No. 104/95-Cus.dt. 30.5.95.
A reference has been made to the Board by CC, Bombay regarding the interpretation of proviso to condition 3 of the Notification No. 104/95-Cus. dated 30.5.95;-
- "Provided that exemption from duty shall not be admissible if there is ' insufficient credit in the said Pass-book for debiting the duty leviable on the goods but for this exemption."
The issue has been examined and it is, hereby, clarified that wherever the credit available in the Pass Book, or DEPB Books, as the case may be, is not sufficient for debiting the duty assessed on the goods in a Bill of Entry, the excess amount of duty assessed which is not covered by the credit available, may be allowed to be paid in cash. The proviso referred to above only means that the exemption from duty is not to be extended to that portion of the duty assessed which is in excess of the credit available.
Sd/-
(SunilKumar)
Director (DBK)