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Exclusion of value of rails - Retrospective exemption given

By TIOL News Service

NEW DELHI, FEB 28, 2015: IN DDT 2519 dated 16.01.2015, we had reported:

Sl No 30 of Notification No 5/2006 CE dated 01.03.2006 provided exemption from the value of Rails. This Notification was in force up to 16.3.2012.With effect from 17.03.2012, concessional rates of duty vide Notification Nos 3/2005-CE dated 24.2.2005, 3 to 6/2006-CE, all dated 1st March, 2006, 10/2006-CE dated 1.3.2006;2/2008-CE dated 1.3.2008;and 59/2008-CE dated 7.12.2008 - merged into a Single Notification No 12/2012 dated 17.03.2012. This new consolidated Notification has 344 entries and in the process of consolidation, some of the earlier entries were lost sight of. One such entry is Sl No 30 of Notification No 5/2006 CE. This has been rectified vide amending Notification No 3/2014 CE dated 03.02.2014 and the exclusion of value of rails has been restored for the above goods.

But, for the period from 17.03.2012 to 02.02.2014, there was no exemption because of a mistake by a babu and the department is demanding differential duty on value of rails during this period. Again astronomical sums from Small Scale Industries!

Perhaps, a section 11C notification would be in order.

This issue has been addressed in this year's budget and Notification No 12/2012 CE dated 17.03.2012 has been amended retrospectively providing exemption for the interregnum period vide clause 102 of the Finance Bill 2015, read with third schedule.


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