20th May, 2003
Notification No. 50/2003 - Central Excise (N.T.)
Whereas the Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof) under section 3 of the Central Excise Act, 1944 (1 of 1944) (hereinafter referred to as the said Act), on cotton yarn falling under heading No.52.03 of the Schedule to Central Excise Tariff Act, 1985 (5 of 1986), in the form of cops, cones and in other forms falling under said heading, sent outside the factory for conversion into plain straight reel hanks and that such cotton yarn was liable to duty of excise which was not being levied according to the said practice during the period commencing on the 1st March, 1986 and ending with 28th February, 1992;
Now, therefore, in exercise of the powers conferred by section 11C of the said Act, the Central Government hereby directs that the duty of excise payable on the said cotton yarn in the forms of cops, cones and in other forms falling under said heading, sent outside the factory for conversion into plain straight reel hanks, but for the practice, shall not be required to be paid in respect of such cotton yarn on which the said duty of excise was not being levied during the aforesaid period in accordance with the said practice.
Under Secretary o the Government of India
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